A panel of independent judges appointed by the Miami Herald for each category interviews the nominees in that category. Each panel selects one Silver Knight and three Honorable Mentions in its category for each of the two counties (30 Silver Knights and 90 Honorable Mentions each year). The honorees are revealed during the Silver Knight Awards ceremony, televised locally from Miami's James L. Knight Center. In 2020, Silver Knights received a $2,000 scholarship, a Silver Knight statue, an AAdvantage 25,000-mile travel certificate and a medallion (from sponsor American Airlines). Honorable Mentions each received a $500 scholarship and an engraved plaque.