The Nebula Awards are voted on, and presented, by active members of the Science Fiction and Fantasy Writers of America, Inc. The Grand Master Award is given to a living author for a lifetime's achievement in science fiction and/or fantasy.

Frederik Pohl, an eminent figure in science fiction, has been authorized by the SFWA to edit an anthology in three big volumes featuring substantial selections of the work of all the first fifteen Grand Masters. These are the seminal writers of the modern SF field, whose works are of dominant importance and influence. This series of collections is a permanent record of greatness in SF.

Volume Three, presenting the last five writers to receive the Grand Master award, features the fiction of Lester Del Rey, Frederik Pohl, Damon Knight, A. E. Van Vogt, Jack Vance.