The Frank Knox Memorial Fellowship program provides funding for students from Australia, Canada, New Zealand and the United Kingdom to conduct graduate study at Harvard University. Through in-country competitions, Knox Fellowships are typically awarded to 15 newly admitted students each year, including six from the U.K. and three each from Australia, Canada and New Zealand. Knox Fellowship funding is guaranteed for up to two years of study at Harvard for students in degree programs requiring more than one year of study. There can be as many as 30 Knox Fellows at Harvard in any given year.

In establishing the Frank Knox Memorial Fellowship program, Annie Reid Knox sought to honor her late husband and his lifelong commitment to America. Throughout his rich and varied career – as newspaper publisher, soldier, vice-presidential candidate and Secretary of the Navy during World War II – Knox championed the concept of democracy as a government of the people. He believed that the United States had been "favored as no other land on earth," and consequently bore tremendous responsibilities both at home and abroad.

Knox’ insistence that America play an active role in global affairs stemmed in part from an awareness of his country’s own roots, which lay "embedded in British soil." During World War II, he tirelessly promoted American and British relations, maintaining that cross-cultural exchange between the two countries was vital to international peace.

According to the wishes of Mrs. Knox, Fellows are selected on the basis of "future promise of leadership, strength of character, keen mind, a balanced judgment and a devotion to the democratic ideal."

The Knox Fellowship Program is administered by the Committee on General Scholarships at Harvard University.