Louise Glück with President Obama. archive photo. | Reuters

The 77-year-old American poet Louise Glück has been awarded the 2020 Nobel Prize for Literature.

"Her unmistakable poetic voice with austere beauty makes individual existence universal,” said the Swedish Academy on Thursday.

The 10 million Swedish kronor Nobel Prize was founded by Albert Nobel, a Swedish Chemist, Engineer and Industrialist who invented dynamite and other powerful explosives.

The Nobel Prize has been awarded for achievements in Science, Literature and Peace since 1901.