The Fund awards awards once a year, with reference to international practices, following the principles of "fairness, openness, and impartiality" and following the procedures of nomination and recommendation, qualification determination, preliminary evaluation, final evaluation, and awards.

The selection committee designates a group of scientists and experts who have academic authority, impartiality, and high scientific ethics in relevant subject fields in my country as nominees. Currently, the nominees include: members of the Ho Leung Ho Lee Fund Selection Committee, who have won the Science and Technology Fund Scientists who have won the Achievement Award and the Science and Technology Progress Award, are academicians of the Chinese Academy of Sciences and the Chinese Academy of Engineering, chief scientists of major national science and technology projects, directors of science and technology departments and education departments of provinces, autonomous regions, and municipalities directly under the Central Government, and directors of national high-tech development zone management committees. , well-known scholars at home and abroad, etc.

Except for the members of the Ho Leung Ho Lee Foundation Selection Committee who can nominate two nominees each year, each of the other nominators can nominate one nominee each year to recommend to the Selection Committee.

After the nomination results are confirmed by the selection committee, they will be initially evaluated by each professional review group, and finally submitted to the selection committee for final evaluation, and the winner will be determined by secret ballot.

The "Ho Leung Ho Lee Foundation Science and Technology Progress Award" must be approved by more than half of the members, and the "Ho Leung Ho Lee Foundation Science and Technology Achievement Award" must be approved by more than two-thirds of all members.