Green jackets have been awarded at The Masters since 1949, first given to Sam Snead after his victory. The ceremonial presentation occurs in the Butler Cabin immediately following the tournament, with a public replication on the course for patrons. Winning grants lifetime entry to the Masters and previously included lifetime membership at Augusta National, a concept devised by co-founder Clifford Roberts to help members stand out to attendees.

Rules dictate previous winners must wear their jackets around the Augusta National clubhouse during Masters weekend, while the champion may take it home for one year before returning it. A notable incident occurred in 1962 when Gary Player accidentally kept his jacket. The jackets are also worn by all attendees of the Champions' Dinner, held on the Tuesday before each Masters.

This tradition underscores the tournament's exclusivity and historical continuity.