US President Barack Obama has been named Time's Person of the Year for 2012.
Time editor Rick Stengel announced the choice on NBC's "Today" programme.
Mr Obama edged out Malala Yousafzai, a Pakistani girl shot in the head by the Taliban for advocating girls' education, for the honour.
Other finalists included Apple Chief Executive Tim Cook, Egyptian President Mohammed Mursi and scientist Fabiola Gianotti.
"He's basically the beneficiary and the author of a kind new America - a new demographic, a new cultural America that he is now the symbol of," he said.
"He won re-election despite a higher unemployment rate than anybody's had to face in basically in 70 years.
“He's the first Democrat to actually win two consecutive terms with over 50% of the vote.
“That's something we haven't seen since Franklin Delano Roosevelt," Mr Stengel said, citing the president who served during the Great Depression and World War II.