The prize will be announced at 11:45 a.m. at the earliest by Göran K. Hansson, the science academy's permanent secretary.
A trio of laureates received 2015's award for their research showing how cells protect and repair their DNA.
The Nobel Prize in Chemistry is the third prize to be handed out this week. Next up is the Nobel Peace Prize, which will be announced in the Norwegian capital of Oslo on Friday.
The Nobel Prize for Economics will be announced next week on October 10, and the Swedish Academy will announce the prize for literature on October 13.
Laureates traditionally receive their awards at a December 10 banquet in Stockholm, the date on which Alfred Nobel, the prize’s creator and the inventor of dynamite, died in 1896.