Tengen, the title, is the 5th of the 'big 7 titles' and can also refer to the tengen A.K.A 'origin of heaven'. This title became a tournament during 1975.
As with all of the 'Big Titles' in Japan, first there are preliminary rounds. If one makes it past these, one makes it into the Tengen League. If one accomplishes this and passes, that one will be chosen to challenge the current title holder for the title of Tengen, and also getting promoted to 7 dan. One who wins the title not only gets Tengen, but also achieves 8 dan. One who successfully defends the titlenot only gets to keep the Tengen title, but achieves the level of 9 dan.
The reward for winning the Tengen is currently 14,000,000 yen,US $148,430.