The Royal Swedish Academy of Sciences has awarded the 2011 Nobel Prize for Literature to 80-year-old Swedish poet Tomas Transtromer.

The jury said Thursday that Transtromer was honored “because, through his condensed, translucent images, he gives us fresh access to reality.”

Transtromer will receive $1.5 million for winning the Literature Prize, the fourth of this year's Nobel Prizes. It follows awards for medicine on Monday, physics on Tuesday and chemistry on Wednesday.

The Royal Swedish Academy of Sciences will name the winner of the 2011 Nobel Peace Prize on Friday.

The Nobel Prizes were created by Alfred Nobel, a wealthy Swedish industrialist who invented dynamite. An award for economics will be announced October 10. The first Nobel Prizes were awarded in 1901.