What does "[something] of the year" mean?

Native speaker’s answer
Rebecca
This is used to specify that something is so great/significant, it deserves an honor or award because it is more substantial than others in the same category [of the same year]. This type of honor can be real or symbolic. It can also just be used as a casual compliment to say that something or someone is particularly amazing. Ex: My mom is the best. She deserves a Mom of the Year award. Ex: Angelina Jolie's new film deserves to be called the best film of the year.