President Barack Obama Named Time's Person of the Year (PHOTO)

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He's done it again.

President Barack Obama on Wednesday was named TIME's Person of the Year for 2012, capping off a big year for the 50-year-old leader of the free world.

"For finding and forging a new majority, for turning weakness into opportunity and for seeking, amid great adversity, to create a more perfect union, Barack Obama is TIME's 2012 Person of the Year," managing editor Richard Stengel wrote on Wednesday.

Obama was previously named TIME's Person of the Year in 2008.

Last year's recipient was "The Protestor."

In November, Obama defeated Republican candidate Mitt Romney to win a second term in the White House. He did so with 332 electoral votes, to Romney's 206.

For more on Obama, read Stengel's editorial here.

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