The Pegasus Awards are awarded for excellence in filking every year at the Ohio Valley Filk Fest (OVFF). It was first awarded in 1984. No Pegasus awards were given out in the second year (1985) due to organizational difficulties, but the awards have been given out every year since 1986.

Most years, Pegasus Awards are given in 5 categories: Best Song, Best Writer/Composer, Best Performer, and 2 topical categories that change each year. In 2003, a 6th award, for Best Classic Filk Song was added.

In the first two years of awards (1984 and 1986) the personal awards were split up by Best Female Filk(sing)er and Best Male Filk(sing)er. The personal awards were re-arranged to the current Best Performer and Best Writer/Composer categories in 1987.

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