Regional Olexander Osmerkin Award in fine arts and study of art was founded by Kirovograd Regional Council (Resolution № 409, April 19, 2005) on application of Kirovograd Regional Organization of the National Union of artists of Ukraine.
   The Award is given for:
     • significant achievements in fine arts and creation of impressive works of art in different genres of fine arts (painting, graphic arts, sculpture, monumental art, theatrical-decorating art) that strengthen national tradition, preserve the foundations of classical art, introduce new forms in fine arts, adapted to the present, are created on a high professional level and have received wide public recognition in Kirovograd region and beyond;
     • considerable art or historical investigation of the development of fine arts in Kirovograd region, promotion and consolidation of the achievements of our region;
     • considerable contribution to the development of art education, creation of original art-educational programs and their introduction in educational establishments of the region.
   The award is established in three nominations: "national tradition", "modern tendencies", "study and history of arts".

   Annually on December 8, Olexander Osmerkin's birthday, in the memorial museum of the artist winners are awarded the title of "Laureate of regional Olexander Osmerkin Award in fine arts and study of art", they also receive certificate, pecuniary reward, badge of laureate of the award, honorary prize of Regional Council and Regional State Administration - statuette of "Steppe eagle".

   Nominates for receiving Regional Olexander Osmerkin Award in fine art and study of art in 2014 according to the decision of the jury from November 5, 2014 were assigned:

   in nomination “national tradition”
     SHAPOVALOV Anatoliy Gavrylovych (born 1949), Kirovograd – painter, a member of the National Union of artists of Ukraine (2012), graduated from Kyiv State Art Institute, painting studio of V.Puzyr’kova and A.Plamenytskyy (1976), a participant of regional, all-Ukrainian, international and foreign art exhibitions – for the creative achievements of recent years. Was nominated by the council of Kirovograd regional organization of the National Union of artists of Ukraine;

   in nomination “modern tendencies”
     TOVKAYLO Volodymyr Gennadiyovych (born 1966), Svitlovods’k, Kirovograd region – painter, a member of the National Union of artists of Ukraine (1994), graduated from Dnipropetrovs’k State Art College named after Ye.Vuchetych, painting department (1986), a participant of regional, all-Ukrainian, international and foreign art exhibitions – for the creative achievements of the 2000s. Was nominated by the council of Kirovograd regional organization of the National Union of artists of Ukraine.

   An exhibition of the best paintings by A.Shapovalov and V.Tovkaylo is presented in the museum. The exhibited works of art vividly present creative style of each artist.