President Obama won this year, but women like teen activist Malala Yousafzai and Yahoo CEO Marisa Mayer were shortlisted for the title.

2012: Barack Obama

The cover was announced Wednesday morning. President Obama has already been named "Person of the Year" by Time — in 2008. The magazine has recognized women as part of groups for its annual year-end honor, but not just one woman on her own since 1987.

Source: poy.time.com