Olympic gold medalist Gabby Douglas has been named AP’s female athlete of the year. (Jamie Squire/Getty Images)

Olympic gymnast Gabby Douglas has been named AP’s 2012 female athlete of the year, edging out fellow Olympian Missy Franklin for the title. Douglas received 48 of 157 votes cast by U.S. editors and news directors. Franklin took second with 41 votes, and Serena Williams received 24 votes.

At just 16 years old, Gabby Douglas became the first African-American to win the Olympic all-around gold in gymnastics. Now she adds another honor to the list, becoming the fourth gymnast to win AP’s athlete of the year.

Since winning the all-around title at the Olympics, Douglas has attracted deals with Kellogg, Nike and AT&T. Her book “Grace, Gold and Glory” is fourth on the New York Times’ young adult list.

Although her busy schedule hasn’t allowed time to train yet, Douglas insists she will compete in the 2016  Olympics in Rio de Janeiro

Olympic gymnast Gabby Douglas received the Sportswoman of the Year award after winning two golds in London this summer.

After winning the Olympic all-around gold this summer in London, Gabby Douglas has been honored with the title Sportswoman of the Year.

She won the award Wednesday night, beating out a slew of other candidates including  Lindsey Vonn,  Serena Williams, Missy Franklin, Allyson Felix, and Paralympians Jessica Long and Tatyana McFadden.

Nastia Liukin, who won the Olympic all-around gold at the 2008 Beijing Olympics and Sportswoman of the Year in 2008, presented the award to Douglas.

Gymnast Gabby Douglas could make millions of dollars in endorsements. (Scott Halleran/Getty Images)

With 22 medals, Michael Phelps is the most decorated Olympian in history, but gymnast Gabby Douglas has thoroughly beaten the swimmer in hits on the NBC Olympics website during the London Games.

Douglas, the individual all-around gold medalist who also helped lead the U.S. to the team gold, has recorded 18.27 million hits, NBC announced. Phelps is second best with 7.04 million hits.

Douglas’ teammate McKayla Maroney, the silver medalist in the vault, is third with 6.04 million hits.

The 16-year-old Douglas has been one of the breakout stars of the Olympics. She will likely earn millions of dollars in endorsements following her wins at the Olympics. She already has a deal in place to appear on special-edition versions of Kellogg’s Corn Flakes.