Al Gore shared the coveted award with the Intergovernmental Panel on Climate Change, which was represented at the awards ceremony in Oslo on Monday by its leader Rajendra Pachauri.
"We, the human species, are confronting a planetary emergency -- a threat to the survival of our civilisation that is gathering ominous and destructive potential even as we gather here," Gore said in prepared remarks released before his acceptance speech.
The other Nobel awards -- in medicine, chemistry, physics, literature and economics -- will be presented at a separate ceremony in Stockholm, Sweden.
Each Nobel Prize includes a gold medal, a diploma and a 10 million Swedish kronor (USD 1.6 million) cash award.
During the gala ceremony in Oslo's city hall, Gore and Pachauri accepted the peace prize before Norway's royalty, leaders and invited guests.
"It is time to make peace with the planet," Gore said in the prepared remarks.
"We must quickly mobilise our civilisation with the urgency and resolve that has previously been seen only when nations mobilized for war."
He urged China and the US -- the world's biggest carbon emitters -- to "make the boldest moves, or stand accountable before history for their failure to act."
Governments, meanwhile, are meeting in Bali, Indonesia, to start work on a new international treaty to reduce climate-damaging carbon dioxide emissions.
Gore and Pachauri plan to fly to Bali on Wednesday to join the climate talks. - DDNEWS