Wolf winners are considered strong contenders for Nobel prizes. In the 34 years the Wolf Foundation has granted the awards, about one out of three laureates in chemistry, physics and medicine have gone on to receive the Nobel.
The winners were announced in Tel Aviv Wednesday.
American scientist Robert S. Langer was honored for innovations that "have had a profound impact on medicine," a foundation statement said.
Eduardo Souto de Mouro from Portugal was named "to reward his advancement of the craft and ideas of architecture."
The eight winners from four countries share $100,000 awards in each of five categories.
President Shimon Peres will award the prizes in May.