The annual award ceremony crowns the best album from the United Kingdom or Ireland of the past 12 months alongside a cash prize of £20,000.
Those shortlisted are chosen by an independent panel of music experts including musicians, producers, presenters, journalists and other leading industry figures.
It was first awarded in 1992 to Primal Scream as a response to the Brit Awards, which is often more commercialised.
Although the awards often give nods to up-and-coming or alternative acts, previous years have seen global records from the likes of Spice Girls and Coldplay shortlisted.
This year's mainstream choice is Divide by Ed Sheeran and his inclusion in the shortlist has certainly divided music fans.
Other albums on the 26th Mercury Prize shortlist include Stormzy, newcomers The Big Moon, Blossoms and previous winners alt-J.
Previous winners have experienced a huge increase in sales and popularity with the likes of The xx receiving a 450% sales spike and James Blake's 2,500% increase.
The award ceremony is often one to "shock" if the bookies favourite doesn't take the prize home, most notably back in 1994 when M People beat out big Britpop acts Paul Weller, Blur and Pulp.
However it's always an exciting night of live performances and celebration of the best music from the past 12 months.
Find out more about the shortlist below and how to buy tickets to the Hyundai Mercury Prize 2017.
Where can I buy tickets?
Limited general public tickets are currently available from Eventim here.
They're circle seated tickets and priced at £41 per person.
Who's on the shortlist?
There are 12 albums on this year's shortlist:
- alt-J - Relaxer
- Blossoms - Blossoms
- Dinosaur - Together, As One
- Ed Sheeran - ÷
- Glass Animals - How to Be a Human Being
- J Hus - Common Sense
- Kate Tempest - Let Them Eat Chaos
- Loyle Carner - Yesterday's Gone
- Sampha - Process
- Stormzy - Gang Signs & Prayer
- The Big Moon - Love in the 4th Dimension
- The xx - I See You
Who's favourite to win?
The current three favourites to win are Sampha, Kate Tempest and Stormzy according to the bookies.
However the bookies don't always get the right outcome so watch this space.
Where can I watch the awards on TV?
BBC Music will be providing live coverage of the Awards on BBC Four and BBC Radio 6 Music.
BBC Four will broadcast the ceremony live in an hour-long special, presented by Lauren Laverne, from 9pm to 10pm. The coverage will include some of the performances and the announcement of the winner.
Who are the judges?
This year's 12 judges are Mojo and Q Editor-in-Chief Phil Alexander, Broadcaster Clara Amfo, Jamie Cullum, Ella Eyre, Music News Editor Harriet Gibsone, Lianne La Havas, Rock & Pop Critic Will Hodgkinson, MistaJam, Marcus Mumford, Head of Music 6 Music and Radio 2 Jeff Smith, Jessie Ware and Head of Music at Radio X Mike Walsh. The Chair of the judging panel is the music executive, Tony Wadsworth CBE.
Which albums have previously won the Mercury Prize?
The awards have been running since 1992 and often seen as an alternative to the commercialised Brit Awards, previous winners include:
1992: Primal Scream - Screamadelica
1993: Suede - Suede
1994: M People - Elegant Slumming
1995: Portishead - Dummy
1996: Pulp - Different Class
1997: Roni Size/Reprazent - New Forms
1998: Gomez - Bring It On
1999: Talvin Singh - OK
2000: Badly Drawn Boy - The Hour of the Bewilderbeast
2001: PJ Harvey - Stories From the City, Stories From the Sea
2002: Ms. Dynamite - A Little Deeper
2003: Dizzee Rascal - Boy In Da Corner
2004: Franz Ferdinand - Franz Ferdinand
2005: Antony and the Johnsons - I Am a Bird Now
2006: Arctic Monkeys - Whatever People Say I Am, That's What I'm Not
2007: Klaxons - Myths of the Near Future
2008: Elbow - The Seldom Seen Kid
2009: Speech Debelle - Speech Therapy
2010: The xx - xx
2011: PJ Harvey - Let England Shine
2012: alt-J - An Awesome Wave
2013: James Blake - Overgrown
2014: Young Fathers - Dead
2015: Benjamin Clementine - At Least For Now
2016: Skepta - Konnichiwa
Let us know who you think will win the Mercury Prize 2017 below:
Who do you think should win the Mercury Prize?
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