The judges said on announcing the prize Wednesday that Vonn "has throughout her career made extraordinary contributions to the world of sports."
Vonn's achievements include a women's record of 82 World Cup wins and three Olympic medals. She was forced to retire in February at age 34 after suffering multiple injuries.
The 50,000-euro ($55,000) award is one of eight Asturias prizes handed out yearly by a foundation named after Crown Princess Leonor. Other categories include art, social sciences and scientific research.
Mountain climbers Reinhold Messner and Krzysztof Wielicki won last year's prize. Other former winners include Michael Schumacher, Carl Lewis, and Sergey Bubka.
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