19/12/2012 08:48 GMT | Updated 19/12/2012 09:47 GMT

Barack Obama Wins Time Magazine's 'Person Of The Year' 2012

Barack Obama has been named Time magazine's 'Person of the Year', the second time the American president has taken the honour.

Malala Yousafzai, the student activist from Pakistan who was shot by the Taliban, Egyptian president, Mohammed Morsi, and Fabiola Gianotti who found the Higgs Boson were runners-up.

Time said that in a year of "historic cultural and demographic changes", Obama "found and forged a new majority, turned weakness into opportunity and sought, amid great adversity, to create a more perfect union".

It is the president's second title

It added: "[Obama] is both the symbol and in some ways the architect of this new America."

Tim Cook and Bill and Hilary Clinton were also contenders.

The annual honour has been handed out since 1927.

Franklin D Roosevelt holds the record for most awards, having won three times.

No person, no matter how revered by current affairs magazines, is a match for Spiderboy

In gaining his second honour Obama follows such illustrious company as Harry Truman, Lyndon B Johnson, Richard Nixon, Ronald Reagen and George W Bush.

He is also level with communist dictator Joseph Stalin but will be relieved to know that he is ahead of Hitler, who only won it once.