Commissioned works by the five will be performed nightly at the Place, a London dance venue, from September 15 through September 25, when the winner will be named. The winning choreographer will receive Ô£25,000 of a total prize pool of Ô£100,000.
The finalists are Rafael Bonachela, Rosemary Butcher, Hofesh Shechter, Bawren Tavaziva, and the team of Tom Roden and Pete Shenton.
John Ashford, the head of the Place, created the Place Prize in order to provide British choreographers with a high-profile showcase along the lines of the Booker Prize, for literature, and the Turner Prize, for visual art. Its prominent backers include former Royal Ballet dancer Deborah Bull and choreographer Matthew Bourne.
The five finalists were chosen from 20 semi-finalists who were asked to create new works for the competition, after 198 choreographers submitted outlines.