Since you're fairly young, as you say, you may not be aware that he was instrumental in bringing about the circumstances that caused the fall of the Soviet Union. He was very supportive of Solidarity in Poland, and when folks in the other satellite countries began to see that standing up to the Soviets would actually work, they began to be emboldened.
The Pope and Ronald Reagan acted as a 'tag team' to bring down the Soviets. Folks around the world were shocked that the Russian Bear was defeated as a power so quickly.
He stood against president Bush on Iraq.
As others have noted, Pope John Paul II was a major player in bringing down the Soviet Empire. He was also a resistance fighter in Poland against the Nazis. Basically, if this happens, it amounts to a "lifetime achievement" award.
Unfortunately, again as others have noted, the actual citation will probably give the Pope's willingness to join with those who wanted Saddam Hussein left in power, and will be used as another excuse to take a swipe at the United States, as was done when Jimmy Carter won last year.