The current Trophy awarded to the winners of the ICC Cricket World Cup was created for the 1999 championships. It is the first permanent prize in the tournament's history.
- The trophy was developed by a team of craftsmen from Garrad, the Crown Jewelers. It was designed and produced in London within two months.
- The trophy is 60 cm high, made from silver and gild and features a golden globe held up by three silver columns. The columns, shaped as stumps and bails, represents the three fundamental aspects of cricket: batting, bowling and fielding, while the globe represents the world and a cricket ball. The trophy is designed so that it can be instantly recognized from any angle.
- The trophy weighs approximately 11 kilograms and has the names of the previous winners inscribed on its base. There is still room for a further ten teams to have their name inscribed on the base.
- The actual trophy is always kept by the International Cricket Council. A replica is presented to the winning team, which is identical in all aspects apart from the inscription of the previous champions.
- In 1999, the trophy won by the Indian cricket team at the 1983 World Cup was damaged during a violent rampage on the Indian cricket board's headquarters by the Hindu nationalist group Shiv Sena.