Time's managing editor Nancy Gibbs said Hillary Clinton was the No. 2 finalist.
Washington: US President-elect Donald Trump is Time magazine's Person of the Year.
The president-elect's selection was announced on Wednesday morning on NBC's "Today" show.
The Manhattan real estate magnate went from fiery underdog to win the White House over Democrat Hillary Clinton.
"For all of Trump’s public life, tastemakers and intellectuals have dismissed him as a vulgarian and carnival barker, a showman with big flash and little substance. But what those critics never understood was that their disdain gave him strength. For years, he fed off the disrespect and used it to grab more tabloid headlines, to connect to common people," the TIME magazine said in its article explaining why Trump won the title.
Trump won the Electoral College vote, while Clinton won the popular vote. Time's managing editor Nancy Gibbs said Clinton was the No. 2 finalist.
Prime Minister Narendra Modi was also among the 11 finalists. He had earlier won the online reader's poll for TIME Person of the Year 2016.
Modi won with 18 per cent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 per cent of the 'yes' vote.
Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 per cent) and US Presidential nominee Hillary Clinton (4 per cent), TIME had said.
However, the magazine's editors, who take the final call chose Trump for the Person of the Year title.