His 1964 track 'The Times They are a-Changin'  (see below) became the anthem for his generation, symbolising the era-defining social struggle against the establishment.

Now - who could justifiably claim to be the architect of 's 'change' catchphrase - has backed the Illinois senator to do for modern America what the generation before did in the 1960s.

I believe that Dylan’s endorsement is newsworthy and significant not so much for the additional votes that it will win for him, but for the historical and nostalgic import that it has for my generation, those baby boomers that believed in and fought for a better world and still shed a tear when hearing “The Times They are a Changin” for what could have been.

In an exclusive interview with The Times, published today, Dylan gives a ringing endorsement to Mr Obama, the first ever black presidential candidate, claiming he is "redefining the nature of politics from the ground up".

Dylan, 67, made the comments when being interviewed in Denmark, where he stopped over in a hotel during a tour of Scandinavia.

Asked about his views on American politics, he said: "Well, you know right now America is in a state of upheaval. Poverty is demoralising. You can't expect people to have the virtue of purity when they are poor.

"But we've got this guy out there now who is redefining the nature of politics from the ground up...Barack Obama.

"He's redefining what a politician is, so we'll have to see how things play out. Am I hopeful? Yes, I'm hopeful that things might change. Some things are going to have to."

He added: “You should always take the best from the past, leave the worst back there and go forward into the future."

Dylan's endorsement contains much symbolic significance. The legendary singer-songwriter, who has an art exhibition opening in London next week, became a focal point for young people worldwide when he released the album 'The times they are a-changin'," including the famous song of that name, in 1964.

The track, which he wrote as the social liberation of the '60s astonished politicians and parents, included lines urging people to accept and embrace what was happening around them.

Memorable lines included: "Come senators, congressmen, please heed the call. Don't stand in the doorway, don't block up the hall," and: "Come mothers and fathers throughout the land, and don't criticise what you can't understand. Your sons and your daughters are beyond your command. Your old road is rapidly agin'."

An Anthem for a Generation

Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

The line it is drawn
The curse it is cast
The slow one now
Will later be fast
As the present now
Will later be past
The order is
Rapidly fadin'.
And the first one now
Will later be last
For the times they are a-changin'.