A Pakistani teenage activist shot by the Taliban and a Japanese author who writes about alienation and a fractured modern world are tipped as Nobel Prize winners ahead of the annual awards this week.
Malala Yousafzai, 16, who was shot in the head by the Taliban last year for demanding education for girls, is a favourite for the peace prize.
Reuters reports one obstacle could be her age as some experts argue the prize would overburden such a young woman.
She is living in London and still facing Taliban threats.
Japanese author Haruki Murakami is favourite to win the literature prize.
Already very popular in Japan, he has also become well known abroad for his works which deal with isolation and love and bring the surreal into everyday life.
His first novel, Hear the Wind Sing, was published in 1979, but Murakami first leaped to literary stardom in 1987 with Norwegian Wood, a bleak coming-of-age story dominated by grief and loss and named after a Beatles song.
Accolades in Stockholm will go also to medicine, physics, chemistry and economics. Oslo will name the peace prize winner on Friday.