The Prince of Wales has joined forces with WE Day organizers and Prince's Charities Canada to launch a new awards program that will recognize young Canadian volunteers who are making a difference in their communities.

Prince Charles announced on Wednesday The Prince's Youth Service Awards, which will recognize "the most outstanding" Canadian volunteers between the ages of five and 18.

"Your feats will motivate other young people, and your actions will lead to a better world," Prince Charles said in a video message.

The first awards will be given out in spring 2016 in four categories: local community development, global action, social entrepreneurship and sustainability.

The winners will receive a hand-carved award statue designed personally by Prince Charles as part of their prize. 

Young Canadians can apply for the award online, where they'll be asked to describe their volunteer activities and submit a portfolio of their work and reference letters.