The Norwegian Nobel committee will make the names of the candidates public on 10 October.
Last year the peace price, that ranges as one of the most prestigious in the world, was granted to former American President Jimmy Carter, for his decades of untiring effort to find peaceful solutions to international conflicts.
In 2001 the prize was split between the United Nations and Kofi Annan for their work for a better organised and more peaceful world.
The date and place for the ceremony are not ready yet, but the Prize in itself is - the winner will receive 10 million Swedish Kroner.
The other Nobel Prizes will be handed out in Sweden a few days ahead of the Peace Prize ceremony in Norway.
Medical University Karolinska Institutet in Stockholm will make the winner of the Nobel Medicine Prize known on 6 October and the winner of the Nobel Physics Prize will be made public on 8 October.
Traditionally the Literature Prize will be made public later.