According to the ministry, the competition will be held in separate sesctons for boys and girls.
The categories of the contest include Tajweed, Quran interpretation and memorization of different Juzes (parts) of the Holy Book, it said, al-Kuwait al-Akhbari website reported.
The participants need to be Saudi nationals and the maximum age limit is 18 for some categories and 24 for others.
Winners will receive cash prizes of up to 2 million Saudi riyals, the ministry added.
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Known as the King Salman Quran Award, the competition is annually organized by the Islamic Affairs, Dawah and Guidance Ministry.
It is aimed at promoting Quranic activities in the country at different levels, according to organizers.
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