Every Lunar New Year, Fo Guang Shan Monastery holds the Festival of Light and Peace and the Light-Offering Inauguration Dharma Service, as well as the Light-Offering Dharma Service held in branch temples around the world, in the hope that everyone can ignite the light of compassion and the light of wisdom in their hearts.

Venerable Master Hsing Yun, founder of Fo Guang Shan, said, "Adorn the temple with wisdom." The Festival of Light and Peace combines the wisdom and strength of Fo Guang members around the world, of monastics and laypeople, as well as students of the Buddhist college, to apply traditional lantern techniques and produce peace lanterns with the undertone of religious blessing. This allows those who come to the temple to pray for blessings to not only make light offerings, but to also enjoy the lanterns and purify their hearts, adding peace and tranquility to their spirits.

Venerable Master Hsing Yun said, "Even if one lacks in material life, as long as one has compassion and wisdom, one's life will be full and rich."

In Buddhism, the annual light-offering and peace lanterns are like light which come with warmth, heat, and illumination. Therefore, peace lanterns are for the New Year and light-offerings are for ordinary days. Some parents make light offerings for their children's wisdom and good behavior. Some children make light offerings for their parents' health. Some people make light offerings for their own bright future. There are also those who make light offerings for world peace and people's happiness.

Venerable Master Hsing Yun once said, "The Buddha is like light. Light can dispel darkness, give warmth, and mature things. Similarly, the Buddha’s light can dispel the dark afflictions of greed, anger, and ignorance, warm our hearts, perfect our life, personality, and future, and achieve all merits." By making light offerings, we hope to light a peace lantern for the world, so that all nations can live in peace with each other, and all races can harmoniously befriend each other.