Former Finnish president Martti Ahtisaari has won this year's Nobel Peace Prize, the Norwegian Nobel Committee announced in Oslo on Friday.

The prize was awarded to Ahtisaari, 71, for his efforts to solve conflicts on several continents and over three decades, the Nobel Committee said.

Committee Chairman Ole Danbolt Mjos said Ahtisaari has been a "prominent" broker.

The Nobel, which is worth 10 million kronor (1.5 million dollars), will be handed over at a ceremony in Oslo on December 10.

In 2007, the peace prize was shared by the United Nations climate body, the Intergovernmental Panel on Climate Change (IPCC) and Al Gore of the United States for their work on climate change.

For this year's award, the five-member Nobel Committee had received 197 nominations for the coveted award including 33 organizations.