Mario Vargas Llosa wins 2010 Nobel Literature Priz

Peruvian-Spanish author Mario Vargas Llosa won the 2010 Nobel Literature Prize on Thursday, the Swedish Academy said.

The 74-year-old author, a one-time presidential candidate, is best known for works such as "Conversation in the Cathedral" and "The Feast of the Goat" but is also a prolific journalist. Announcing the award, the academy hailed "his cartography of structures of power and his trenchant images of the individual's resistance, revolt, and defeat.", according to AFP.

The awards ceremony is planned for Dec. 10 in Stockholm. As the winner, Mr. Vargas Llosa will receive 10 million kronor, or about $1.5 million.

Mr. Vargas Llosa is currently spending the semester teaching Latin American studies at Princeton University, New York Times reports.