Under the high Patronage of the President of the Italian Republic, with the Patronage of the Italian Prime Minister and with the support of the Italian Motion Picture Association (ANICA); the Italian Film Producers' Association (UNPF); the Italian Union of Motion Picture Journalists (SNGCI).

Established in 1972, the award cerimony was up to 1981 held in Puglia, Valentino's birthplace. On the occasion of its tenth year in 1982 the cerimony was transferred to Los Angeles where it remained until 1995. In 1996 it returned in Europe with editions in Berlin, Paris, London, Madrid, Roma, Sao Paulo do Brazil, Rio de Janeiro and, from the 2003, again in Italy.

An international Jury of cinema Critics award three gold statuettes - depicting Valentino in the role of "The Sheik" - every year to an actress, an actor and a director who by virtue of their undoubted talent and charisma have reached the pinnacle of international success.

At the annual awards ceremony about one thousand guests from among leading figures in the world of culture, the arts, politics, finance and showbusiness take part in a charity gala whose proceeds are developed to humanitarian institutions, scientific research and bodies involved in combating many of the serious problems afflicting the contemporary world.

The Rudolph Valentino Award, as per its rules is conceived as an award to cinema characters, a celebration of cinema throught characters. For the public in any given film a character is what has been created by the actor and for an actor it is the role played by the director. In assigning the Award the jury always seek to choose the best using as its yardstick for talent, charisma and glamour Valentino himself after whom the award is named.

The event in the shadow of the celebrated Rudolph is always an occasion to reopen the debate on stardom. A phenomenon which many mistakenly perceive as dead while the truth is that it has only widened its horizons and changed its appareances. The Hollywood style star-system is long gone but the diva, the star, the vedette continues even if without the excesses and extravagances of an earlier unique period. The fascination that a character exercises on the public at large must be studied and analysed without prejudice since it is an instrument that can bi used not solely for commercial and industrial purposes but also for artistic and ideological ones.