Fields Medals may be the most well-known mathematical prizes, though they are limited to recipients 40 yrs-old and younger. The Abel Prize in mathematics, really comes closer to a Nobel Prize in the sciences. And this year it has been awarded to 80-year-old John Milnor for a lifetime of contributions (he is also an earlier Fields recipient):
http://www.nature.com/news/2011/110323/full/news.2011.182.html
For a more technical take on Milnor and the award see Tim Gowers post:
http://gowers.wordpress.com/2011/03/23/milnor-wins-2011-abel-prize/
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