noun
award of excellence; merit award
A prize given for outstanding achievement, often in competitions, exhibitions, or academic contexts. It is typically one level below the top prize.
彼女は絵画コンクールで優秀賞を受賞した。
She received an award of excellence at the painting competition.
優秀賞に選ばれた作品は、来月展示されます。
The works selected for the merit award will be exhibited next month.
入賞 means winning any prize, while 優秀賞 specifically refers to an excellence award.
Compound of 優秀 (excellence) and 賞 (prize).