This award was first presented by the foundation VILLUM FONDEN in 1987, and is made every year to a Danish researcher in recognition of outstanding achievements in technical and scientific research. 29 researchers have received the award to date.

On 23 January 2012, the Villum Kann Rasmussen Annual Award for Technical and Scientific Research, worth DKK 2.5 million, was made to Klaus Mølmer at a prize-giving ceremony at Aarhus University, Denmark. Klaus Mølmer received the award for his outstanding and innovative research in theoretical quantum optics and atomic physics.