1 reward, award, trophy, premium; honour, accolade, Literary guerdon:
The first prize was a week's holiday in the Bahamas.
2 winnings, jackpot, purse, receipts, gain, windfall, stakes, Colloq haul, Chiefly US take:
He used his prize from winning the lottery to buy a new car.
3 aim, goal:
The prize they all strove for was a grant to carry on lexicographic research.
4 loot, booty, spoil(s), trophy, plunder, pickings:
The pirates took the galleon as their prize.
5 choice, excellent, (prize)winning, best, champion, outstanding, select, superior, superlative, first-rate:
This dairy owns a prize herd of Guernseys.
value, treasure, esteem, cherish, appreciate, rate highly, hold dear:
I prize your friendship above all things.