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Lame phrase thought up by internet nerds who have nothing better to do than sit on IRC and create catch-phrases from other people's typos. A pop culture thing.
the new lame-ass computer game that we're all obsessed with is TEH WIN!
Teh Win by Nikki November 5, 2004
Originally a misspelling of "the win", it took on a life of its own.

A way to show that something is utterly superior. Exact opposite of something that is epic fail.

First appeared during frequent raiding in Everquest 1.
Guy1: I just bought a double-chocolate chip cookie - it's teh_win.

Eq_Raider01: I hope we down Vindi tonight - his drops are teh_win.
teh_win by Saelaru June 9, 2009

I am teh win 

Translates from internet slang to "I have Beaten you in a quarrel" or more directly as “I am the winner”

Often used in the “real world” for comedy effect.
steam player 1: where are yoo
steam player 1: theres just the two of us
steam player 1: muhaha
steam player 2: IZ SEE JOO FAGGOT
* steam player 1 recieved shot to the head by steam player 2
steam player 2: I AM TEH WIN1111111one

you win teh prize!!! 

from some website, best desciped as thus
"argueing on the internet is like runnign in the special olympics, even if you win you are still a spastic"

a term to deride somebodys achivements or to just take the piss out of them
for doign somethign or beign someone stupid
him :I OWNEDYOUR ASS ON Q3 LAST NIGHT FO SHIZZLE!!!!!!

you : you win teh prize!!!

I R Teh Winrar 

When you want to congratulate yourself on a job well done and don't mind sounding like a geeky dumbass.

Don't let anyone tell you you're using it wrong, it's not some computer-y thing, it's a statement of your coolness.

Plus it rhymes.
"I just put my pants on the right way, I R Teh Winrar!"
I R Teh Winrar by KittyButt September 29, 2009

Teh WinRAR 

A derivitave of 'The Winner', Teh WinRAR is something you say when you win.
Teh WinRAR by Teh WinRAR October 16, 2008