The core of the Kolleg's activity, the Alfried Krupp Fellows Program, was founded in 2007 and has been run ever since with the kind assistance of the Alfried Krupp von Bohlen und Halbach Foundation. It allows the fellows to focus on a large-scale research endeavour without being distracted by administrative or instructional responsibilities.

Distinguished scholars who have demonstrated success in both research and instruction are eligible to apply for an Alfried Krupp Senior Fellowship. Doctorate-holding young researchers who demonstrate exceptional qualifications are given the Alfried Krupp Junior Fellowships. Appointed fellows serve one academic year (October 1 to September 30) or one semester (October 1 to March 31 or April 1 to September 30). The Alfried Krupp Wissenschaftskolleg provides its fellows with free living and working space.

The fellowships are awarded based on the rigorous standards set for the fellows' academic performance. It is urged of Senior Fellowship applicants to combine a research stay at the Alfried Krupp Wissenschaftskolleg with a research semester at their home university. The Alfried Krupp Wissenschaftskolleg provides assistance to candidates who would like to begin their fellowship with a spouse or kids in tow.