Cat Power's "The Greatest" has been named the winner of the 2007 Shortlist Music Prize. The album beat out nine other releases from finalists such as Band of Horses, Beirut, Bonnie Prince Billy, Cat Power, Girl Talk, Hot Chip, Joanna Newsom, Regina Spektor, Spank Rock and Tom Waits.

"The Greatest," recorded in Memphis with veteran session musicians, became Cat Power's top charting album when it opened last year at No. 34 on The Billboard 200. As part of its Shortlist win, the album is featured in a special iTunes promotion that includes the exclusive track "Up and Gone."

The Shortlist Prize launched in 2001 and was won in its maiden year by Sigur Ros. Subsequent winners were N*E*R*D, Damien Rice and TV On The Radio. Last year, the Shortlist morphed into the New Pantheon Award, after a dispute between former Shortlist partners Tom Sarig and Greg Spotts. Sufjan Stevens' "Illinois" claimed the 2006 New Pantheon Award, although no public ceremony was ever held.

Among the artists voting for this year's winner were Snow Patrol's Gary Lightbody, the Killers' Ronnie Vannucci, Franz Ferdinand, KT Tunstall, Panic! At The Disco, the Flaming Lips' Wayne Coyne and Stevens.