Obama named Time's Person of the Year

Oh, come on, you knew he would get it, right?  (Time magazine)

Actually, since 1964 every president except Nixon and George H.W. Bush received the honor in the year they were first elected.  (See full list)

That's right.  Johnson, Carter, Reagan, Clinton, and George W. Bush all were Person of the Year in the year of they were first elected.

So this should not come as that much of a surprise.