Mecca Governor Prince Khaled Al-Faisal and KFIP Secretary-General Abdullah Al-Othaimeen announced the names of this year's winners on Tuesday in Riyadh, Arab News reported.
The prize consists of a handwritten Arabic certificate summarizing the laureate's work, a commemorative 24-carat, 200-gram gold medal and a cash award of 750,000 Saudi Riyal (USD 199,901).
Naik, 49, is the founder of the Islamic Research Foundation of India.
Naik, a non-Arabic Indian Islamic scholar has become a renowned authority on comparative religion, Al-Othaimeen said.
Two internationally acclaimed scholars of chemistry, Professor Omar Mwannes Yaghi from the US and Professor Michael Gratzel from Switzerland, were declared co-winners of the prize in science category (chemistry).
The award for Islamic studies went to Dr Abdul Aziz bin Abdul Rahman Kaki, a consultant at Madinah Development Authority.
Prof Jeffrey Ivan Gordon from the US was declared winner of the prize in medicine. The co-winners in any category share the monetary grant.
