Complex sentence: Instituted by Alfred Nobel's last will, which specified that his fortune be used to create a series of prizes, the Nobel Prize is widely recognized as one of the most prestigious honors awarded in the aforementioned fields.
Split into simpler sentences: Instituted by Alfred Nobel's last will, which specified that his fortune be used to create a series of prizes, now known as the Nobel Prizes. They are widely recognized as one of the most prestigious honors awarded in the aforementioned fields.