...The Swedish Academy said it was for his "innovative plays and prose which gives voice to the unsayable".
As well as the prize, Fosse receives 11 million Swedish kronor (£822,000)...
...Nobel committee chairman Anders Olsson said: "What is special with him is the closeness in his writing. It touches on the deepest feelings that you have - anxieties, insecurities, questions of life and death - such things that every human being actually confronts from the very beginning.
"In that sense I think he reaches very far and there is a sort of a universal impact of everything that he writes. And it doesn't matter if it is drama, poetry or prose - it has the same kind of appeal to this basic humanness."
...Fosse's "magnum opus in prose", he said, was his recent Septology - made up of seven parts collected in three volumes: The Other Name, I Is Another and A New Name.
The monologue, which progresses seemingly endlessly and without a single full stop over a timespan of seven days, depicts an elderly artist speaking to himself as another person.
"The Septology is a major work, being at the same time as his attempt at reconciliation with his own fate, an elegy to his dead wife [and] dealing with his own career as a painter," Olsson said.
For readers seeking something shorter, Fosse's 2000 novella Morning and Evening is "a wonderful little piece".
...Previous winners of the prize - given for a body of work, rather than a single book - have included Toni Morrison, Doris Lessing, Gabriel Garcia Marquez and Bob Dylan. READ MORE from BBC
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