The former US vice-president was awarded the prestigious prize jointly with the UN's Intergovernmental Panel on Climate Change (IPCC).
The committee cited "their efforts to build up and disseminate knowledge about man-made climate change".
Gore won an Oscar for his climate change film "An Inconvenient Truth".
He said he accepted the award on behalf of scientists - like those in the IPCC - who had worked tirelessly for years to get the message about global warming out.
"This is the most dangerous challenge we've ever faced," he said, speaking in Palo Alto, California, few hours after the award was announced.
"I will be doing everything I can to try to understand how to best use the honor and recognition of this award as a way of speeding up the change in awareness, and the change in urgency.
"I'm going back to work right now. This is just the beginning," he said, walking out of the room after less than five minutes, and without taking questions.
Wow, talk about a good deal. Even though Gore lost his run for president, he won a Nobel Peace prize! I guess now he can say, "In your face Bush!"