Nobel Peace Prize

The Nobel committee called the pair "representatives of all journalists who stand up for this ideal".

They are known for investigations that have angered their countries' rulers, and have faced significant threats.

Both spoke in defence of freedom of the press following their win.

Ressa, who co-founded the news site Rappler, was commended for using freedom of expression to "expose abuse of power, use of violence and growing authoritarianism in her native country, the Philippines".

The Rome-based organisation says it helps some 97 million people in about 88 countries each year and that one in nine people worldwide still does not have enough to eat.

"The need for international solidarity and multilateral cooperation is more conspicuous than ever," Chairwoman Berit Reiss-Andersen of the Norwegian Nobel Committee told a news conference.

The prize is worth 10 million Swedish crowns (approx $NZ1.7m) and will be presented in Oslo on 10 December.

This year, there were 318 contenders - 211 individuals and 107 organisations.

 The 19-year-old, who is doing her A-levels and has an offer from a top UK university, will take the role with a special focus on girls' education.

In 2012 Ms Yousafzai was nearly killed by the Taliban for campaigning for girls' rights to education.

Accepting the accolade in New York, she said: "(Bringing change) starts with us and it should start now."

"If you want to see your future bright, you have to start working now (and) not wait for anyone else," he said.