It's unclear whether the award will matter enough in Colombia to keep the peace deal with FARC from falling apart in the coming weeks as Santos maneuvers to save it.
"It's now out of the question," a Nobel watcher says.
Brush up by reading these five stories about Colombia's 52-year conflict with FARC.
The cost of Colombia's civil war is incalculable, but here are some key numbers that help illustrate the conflict.
A guide to the latest developments ahead of a likely referendum on President Juan Manuel Santos's pending deal with FARC rebels.
The March 23 deadline they agreed to last September has come and gone, and FARC leaders continue to rebuff attempts by president Juan Manuel Santos to set a firm date for the guerrillas to lay down their weapons.
While many Colombians want peace with FARC, politics with FARC still remains tough for them to stomach.
“It’s Colombia, not Columbia!" is also trying to broaden foreigners' understanding of life in the country.