The 76-year-old religious leader received the £1.1m prize at St Paul’s Cathedral in London. About £900,000 will go to Save the Children in India, with £125,000 set aside for The Minds and Life Institute.
Save the Children chief executive Justin Forsyth, said: "We are honoured to accept this generous humanitarian gift, which will be used to save the lives of some of the world’s most vulnerable children.
“In line with the Dalai Lama’s wishes, the funds will be used on programmes which tackle malnutrition in India. Save the Children is at the forefront of the fight against malnutrition – one of the biggest causes of deaths of young children across the globe.
“This donation will be used practically, to help many more children survive, grow and as the Dalai Lama said realise their full potential.
“In selecting Save the Children as a beneficiary, His Holiness has spoken of his admiration for the work of Save the Children and its tireless efforts over the years to improve the world for young children.”
The 76-year-old is being awarded the prize for encouraging “serious scientific investigative reviews of the power of compassion”, and its potential to address world problems.
The John Templeton Foundation said he was chosen for exploring these issues – which are key themes of his teachings – with people beyond his own religious traditions.
Source: Save the Children UK