"Person of the Year" is an annual title awarded by TIME magazine to an individual or group that has had a significant impact on the world in the past year. This recognition highlights those who have influenced news, culture, or society, whether positively or negatively. The selection process involves a panel of editors who consider various factors, including the person's influence, actions, and the broader implications of their work. Past recipients include notable figures such as Malala Yousafzai, Elon Musk, and Greta Thunberg, reflecting diverse fields like activism, technology, and environmentalism.