The Zerilli-Marimo’-City of Rome literary prize was instituted in 1998 with the purpose of increasing the awareness of contemporary Italian fiction in the United States and in English-speaking countries. It also aims at exposing Italian authors and publishers to American readers, stimulating the production of works of international reach.

1. The Prize is awarded every 2 years to a book of fiction in prose originally written in Italian and published in its first edition in Italy during the two previous years. 
2. The Prize is funded by the Baroness Mariuccia Zerilli-Marimò and consists of $3,000, payable to the author of the winning work, and a contribution of up to $10,000 to ensure the translation and publication of the work in the United States.
3. The Prize is organized by the Department of Italian Studies of New York University, Casa Italiana Zerilli-Marimò, Casa delle Letterature of the City of Rome and by the Italian Cultural Institute of New York. The Prize has the support of the Italian Ministry of Foreign Affairs. Other participating institutions include Harvard University, The New York Review of Books and Rivista dei Libri. 
4. The members of the Executive Committee who preside over the Prize are: the Baroness Mariuccia Zerilli-Marimò; Francesco Erspamer, founder of the Prize; the director of Casa Italiana Zerilli-Marimò; the director of Casa delle Letterature of the City of Rome; the chair of the Department of Italian Studies of New York University or another member of the Department; the Director of the Italian Cultural Institute of New York or another representative of the Institute.
5. Nominees are chosen by the Executive Committee, in consultation with Italian publishers and a group of consultants from the university and institutions that collaborate on the Prize. Works of new and innovative writers are particularly favored.
6. Every two years, the Executive Committee chooses ten books, preferably published by ten different publishing houses. A publishing house may not participate with more than two titles. Writers may not participate if: a) they have already been translated and published in English; b) they have won the Prize in any of three previous competitions; c) they have participated in two out of five previous competitions.
7. The publishers will send one hundred copies of each book participating in the Prize by and no later than April 30th to Casa Italiana Zerilli-Marimò, which will distribute them to the Prize jurors.
8. The second phase of the Prize consists of a vote in two rounds, conducted in the month of September by a jury composed of ninety members who are not Italian citizens and are residents of the United States, Canada or other English speaking countries. The jurors must have an excellent knowledge of the Italian language. The selection of the jurors should ensure a vast representation in terms of geographic location and institutional affiliations.
9. In each vote, jurors should indicate the book that in his/her judgment has the most compelling and original narrative and, most importantly, is the most suitable for publication in the United States.
10. The counting of the first round of votes will take place at the Department of Italian Studies of New York University in the presence of at least two representatives on a weekday in the second half of September. The three books with the most number of votes will enter the final phase of the competition.
11. The second vote, limited to three finalists, will take place within four weeks after the first vote and will follow the same procedure. The winner will be the book that receives the majority of the votes.
12. The Prize ceremony will take place in the month of November at Casa Italiana Zerilli-Marimò. The author will be presented with a check in the amount of $3,000 only if he/ she is present. The absence of the winner does not affect the winning status of the book or the consignment of a contribution in support of translation and publication of the book in the United States.
13. The publisher chosen by the Executive Committee commits to the publication of the translation in English of the winning book within two years from its proclamation and to its distribution in the American market. A specific contract between the American and the Italian publisher (or who owns the copyrights) should be drafted within a year; after one year the Prize should not be expected to comply with the contribution toward the book’s publication and translation. 
14. In the preceding or successive days of the award ceremony, presentations and readings of the winner’s and other finalists’ books will be organized in New York, Boston, and other cities and universities.