From today's lead editorial in the Washington Post:
Our Laureate: Neda of Iran
President Obama has won the Nobel Prize for Peace -- but that's not his fault.
...The Nobel Committee's decision is especially puzzling given that a better alternative was readily apparent. This year, hundreds of thousands of ordinary people in Iran braved ferocious official violence to demand their right to vote and to speak freely. Dozens were killed, thousands imprisoned. One of those killed was a young woman named Neda Agha-Soltan; her shooting by thugs working for the Islamist theocracy, captured on video, moved the world. A posthumous award for Neda, as the avatar of a democratic movement in Iran, would have recognized the sacrifices that movement has made and encouraged its struggle in a dark hour.
From the Nobel Prize web site:
Is it possible to nominate someone for a posthumous Nobel Prize?
No, it is not. Previously, a person could be awarded a prize posthumously if he/she had already been nominated (before February 1 of the same year), which was true of Erik Axel Karlfeldt (Nobel Prize in Literature 1931) and Dag Hammarskjöld (Nobel Peace Prize, 1961). Effective from 1974, the prize may only go to a deceased person to whom it was already awarded (usually in October) but who had died before he/she could receive the Prize on December 10 (William Vickrey, 1996 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel). See also par. 4 of the Statutes of the Nobel Foundation.
(Hat tip to James Fallows.)