The Alfaguara Novel Prize (Spanish: Premio Alfaguara de Novela) is a Spanish-language literary award. The award is one of the most prestigious in the Spanish language. It includes a prize of US$175,000 (about €162000) making it one of the richest literary prizes in the world. It is sponsored by Alfaguara, a publisher owned by Penguin Random House.
The prize was created in 1965 by Alfaguara and continued until 1972. In 1980 Alfaguara was purchased by Grupo Santillana. In 1998 the award was reconvened.