"I have rejected the award announced by the Delhi-based organisation," Hazare told reporters at Ralegan Siddhi in Ahmednagar district.
"I cannot tell why I decided to reject the award. But my mind said ''no'' to accepting the award," Hazare said.
The award carries a cash reward of one crore rupees, a gold medal and a citation.
While announcing the award, IIPM Dean, Professor Arindam Chaudhuri, had said the anti-corruption crusader was selected for the award "to show strong solidarity" to his determined and non-violent protest against corruption.