During the Golden Jubilee of Peetarohanam (ascension to the pontifical seat) of His Holiness Pujyasri Jayendra Sarawati Swamiji to the venerated Kanchi Kamakoti Peetam in 2003-2004, a National Eminence Award in Fine Arts was set up by the devotees of the Mutt. The event is conducted as part of the Annual Sri Kanchi Mahaswami Festival. Kamakoti Peetam has been in the forefront of promotion of Fine Arts in the country. The several Acharyas who have adorned this Peetam have themselves been great connoisseurs of Fine Arts.

The 69th Acharya Sri Jayendra Saraswati Swamiji renovated the Homes of the Trinity of Music in Thiruvarur in Tanjore District, Tamil Nadu and set up the Kanchi Kamakoti Peetam Carnataka Sangeetha Seva Trust to perform the Jayanti Celebrations of Saint Thyagaraja, Muthuswami Dikshitar and Shyama Sastry. In addition to honouring artistes as Asthana Vidwans of the Mutt, the Acharyas of the Peetam have given primacy to the development of Indian music amongst the youth of this country. This award is a continuation of the efforts of the Kamakoti Peetam to promote excellence in Fine Arts. The award carries a Cash Prize of Rs. 1 lakh, a Bronze Lamp, a Citation and blessings from the Sankaracharyas.

Sri Jayendra Saraswati Swamigal attained Videha Mukti on 28.02.2018. For 63 long years, he adorned the Peetam with distinction and guided it with visionary leadership. This year the Award was conferred on Shri. Kasim and Shri. S. Babu, grandsons of the legendary Sheikh Chinna Maulana on 18.12.2022.