Spaceref has a press release from the European Southern Observatory on this year's winner of the Shaw Prize for Astronomy:
The Shaw Prize in Astronomy for 2008 is awarded to Professor Reinhard Genzel, Director of the Max Planck Institute for Extraterrestrial Physics (MPE), in recognition of his outstanding contribution in demonstrating that the Milky Way contains a supermassive black hole at its centre, a result largely obtained with the help of ESO's telescopes.
The Shaw annual prize for Astronomy carries a monetary award of US$1 million.
There are also Shaw Prizes for Life Sciences and Mathematics.