"They have done groundbreaking work on how the cell organises its transport system" , the award-giving jury said.
The trio, who all work at US universities, were honoured for "their discoveries of machinery regulating vesicle traffic, a major transport system in our cells", it said.
James Rothman, Randy Schekman & Thomas Sudhof won 2013 Nobel Prize in medicine.
"Through their discoveries, Rothman, Schekman and Sudhof have revealed the exquisitely precise control system for the transport and delivery of cellular cargo," the Nobel Assembly at Sweden's Karolinska Institute said in a statement when awarding the prize of 8 million crowns.
The three Nobel Laureates have discovered the molecular principles that govern how this cargo is delivered to the right place at the right time in the cell, reported Xinhua.
Medicine is the first of the Nobel prizes awarded each year. Prizes for achievements in science, literature and peace were first awarded in 1901 in accordance with the will of dynamite inventor and businessman Alfred Nobel.
(With agencies' inputs)