Surprise, surprise. Time announced yesterday that President-Elect Barack Obama is its Person of the Year.

The AP reports:

"NEW YORK — President-elect Barack Obama has won another contest: He's been named Time magazine's "Person of the Year" for 2008.

The magazine has named Treasury Secretary Henry Paulson, French President Nicolas Sarkozy, Gov. Sarah Palin and Chinese director Zhang Yimou as runners-up.

Last year's winner was Russian Prime Minister Vladimir Putin. Previous individual winners have included Bono, President George W. Bush and Amazon.com CEO and founder Jeff Bezos."

Shepard Fairey, iconic graffiti writer and founder of OBEY clothing, did the art work for the cover. If you want a t-shirt with a similar Fairey graphic, click here.