Yes, in the past it's been won by the likes of Winston Churchill, John F. Kennedy and, er, you - but now our own Nigel Farage, the man who credited himself with winning the Brexit referendum, may claim that crown.
Farage is described by the award's judges as having "[positioned] the referendum as the start of a global wave against the political establishment".
Other politicians on the shortlist include Turkish President Recep Tayyip Erdogan, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.
They're going up against Beyonce Knowles, Mark Zuckerberg, and two groups - scientists working on the CRISPR project who have developed DNA editing technology, and the local residents who blew the whistle on lead-poisoned water in Flint, Michigan. The winner will be announced tomorrow.
It's been rumoured Farage is considering a move to the US, after Donald Trump personally recommended him for the (already-filled) position of British Ambassador to the US, saying he would do a "great job".
Many people would like to see @Nigel_Farage represent Great Britain as their Ambassador to the United States. He would do a great job!— Donald J. Trump (@realDonaldTrump) November 22, 2016
A rather perplexed Downing Street spokesman, though, told Trump there was no vacancy.
"We already have an excellent ambassador to the US," they said.
Farage took that with characteristic humour, saying: "I would like, formally or informally, to do whatever I can to bring our great nations a bit closer together."
Person of the year: past winners
|2005||The Good Samaritans|
|2004||George W Bush|
|2003||The American soldier|
|2000||George W Bush|
|1998||Ken Starr and Bill Clinton|