LONDON -- Paul Beatty has won the Man Booker Prize for fiction for "The Sellout."

He is the first American novelist to take the prestigious literary award.

Judges said Beatty's provocative book, a stinging satire of race and class in the United States, was as timely as the evening news.

Two Canadians had been in the running for the award, which comes with a cash prize of 50,000 pounds, or approximately C$80,000.

Vancouver-born, Montreal-based Madeleine Thien was a finalist for her novel "Do Not Say We Have Nothing." Earlier on Tuesday, she was honoured with the Governor General's Literary Award for fiction.

Montreal-born, Hungary-based author David Szalay was also nominated for "All That Man Is."

Historian Amanda Foreman, who chaired the judging panel, said "The Sellout" "plunges into the heart of contemporary American society, and with absolutely savage wit -- the kind I haven't seen since (Jonathan) Swift or (Mark) Twain."

"The Sellout" is set in a rundown Los Angeles suburb called Dickens, where the residents include the last survivor of the Little Rascals and the book's narrator, Bonbon, an African American man on trial at the U.S. Supreme Court for attempting to reinstate slavery and racial segregation.

The book has been likened to the comedy of Richard Pryor and Chris Rock, and Beatty goes where many authors fear to tread. Racial stereotypes, offensive speech and police violence are all subject to his scathing eye.

Foreman said "The Sellout," which mixes pop culture, philosophy and politics with humour and anger, sets out to "eviscerate every social taboo."

"This is a book that nails the reader to the cross with cheerful abandon," she said. "That is why the book works -- because while you're being nailed, you're being tickled."

The five judges met for a marathon four hours Tuesday to choose the winner from among six finalists, whittled down from 155 submissions. Foreman said the decision for Beatty's work was unanimous.

Beatty, 54, was awarded the prize by Prince Charles's wife Camilla, Duchess of Cornwall, during a black-tie ceremony at London's medieval Guildhall.

Bookies had considered Beatty a longshot and picked Thien as the favourite.

Founded in 1969, the Man Booker Prize was previously open to writers from Britain, Ireland and the Commonwealth, but was expanded in 2014 to include all English-language authors.

The British literary award, which usually brings the victor a huge sales boost, is named after its sponsor, financial services firm Man Group PLC.

With files from The Associated Press