The Masing Memorial Prize is awarded to independent scientific research work by young DGM members in the field of materials science and engineering that has been published in the two years preceding the award. For the award decision, primarily the papers published in the two calendar years preceding the award are to be evaluated by the prize committee. Nominees' disputations should be no more than 10 years in the past at the time of nomination. Furthermore, the nominee must be a personal member of the DGM at the time of the award and nomination. Dissertations, as well as work based on those dissertations, should be excluded from the award. The prize is named after the long-time DGM chairman and honorary chairman Georg Masing.
The Masing Memorial Prize consists of a certificate confirming the award, stating the work honored, and a medal. The prize can be awarded only once a year. The awarding of the prize may be suspended if no work is recognized as worthy of the prize. The prize is awarded after a proposal by the Award Committee and after a decision by the Board of Directors of the DGM. The award is announced publicly on the occasion of a central event of the DGM of the corresponding year (e.g. DGM Day). The announcement of the awarded prize is also made in the central presentation media of the DGM.