This prize is awarded annually by Australian Book Review. The prize was formerly known as the ABR Poetry Prize. It was established under that name in 2005, and was renamed in honour of the poet Peter Porter in 2010. The prize is given for a single poem of no more than 100 lines. All poems are judged anonymously.
The prize comes with a cash reward, and the winning poem is published in Australian Book Review. Winners are not inevitably Australian poets: in 2018, the prize was won by Hong Kong-based Nicholas Wong.