Editor's note: See a side to Malala you haven't seen before in Christiane Amanpour's special interview, The Bravest Girl in the World, on CNN Sunday, October 13, 7pm ET. The program, recorded in New York before a studio audience, will include exclusive material.
London (CNN) -- Pakistan's Malala Yousafzai has won the European Parliament's Sakharov Prize for Freedom of Thought.
Parliament President Martin Schulz called the 16-year-old a "brave advocate for education" who "reminds us of our duty toward children and especially girls."
The prize is worth about $67,000.
Malala's activism started after the Taliban banned girls from schools in Pakistan's Swat Valley in 2009. She anonymously blogged for the BBC in opposition to that order, and became an open advocate for girls' education.
In 2011, Malala told CNN, "I have the right of education. I have the right to play. I have the right to sing. I have the right to talk."
A year later, she was riding the bus home from school when a Taliban gunman climbed aboard and shot her in the head. She nearly died.
Since then, Malala has recovered and continued advocating for girls' education, despite ongoing death threats from the Taliban.
She's also a favorite to win this year's Nobel Peace Prize, which will be awarded Friday. If Malala wins, she would become the youngest-ever Nobel laureate.
CNN's Holly Yan and Ben Brumfield contributed to this report.