The magazine revealed its choice Wednesday on TODAY.
“To be on the cover of Time as Person of the Year is a tremendous honor,” Trump told Matt Lauer in an interview after the reveal.
Every year, TIME editors select the person — or idea — who has most influenced the news and the world in the past year, for good or ill.
Trump beat out 10 other finalists, including his Democratic rival, Hillary Clinton. TIME declared Clinton their runner-up, and she was also the top pick among TODAY viewers.
This will be Trump’s 10th time on the magazine’s cover, and all but one have been since August 2015. His first appearance on TIME was in 1989.