Teenage activist Malala Yousafzai has been awarded the International Children's Peace Prize for her continued fight for universal education and equality.

Ms Yousafzai made international news when she was shot in the head on a school bus over her efforts campaigning for females’ right to education. She will be given the prize by the Amsterdam-based organisation at a ceremony in The Hague on September 6.

The International Children's Peace Prize, an initiative of the Dutch-based KidsRights Foundation, was launched in 2005 by former Soviet leader, Mikhail Gorbachev, when he chaired the Summit of Nobel Peace Laureates in Rome.

The prize comes with a cash award of €100,000 ($AUD148,200) that will be invested into projects relating to the winner's cause.