In 1982 "The Computer" became the first object to receive the distinction as it had the largest impact in the world at that time; and sometimes two or more people are identified as in 1998 when "Bill Clinton and Kenneth Starr" were identified as the "Man of the Year."
In some years large groups are identified, for example in 1956 "The Hungarian Freedom Fighter"... in 1960 "U.S. Scientists"... in 1966 "Twenty-five and Under"... 1975 "American Women"... in 2003 "The American Soldier"... in 2006 "You" was the "Man of the Year" (This referred to the new concepts of the blog, social media, and user generated information.)
For 2011 TIME Magazine has identified "The Protester" as the "Person of the Year." 2011 saw major protests all over the world from democracy rallies in China and Russia, to the Arab Spring Movements all over the Middle East, to the Occupy Movements here in the United States. 2011 truly was a historic year in terms of revolution and protests... perhaps the most revolutionary year in history!!!