Yang Zirong, one of the heroes of the Model Opera 'Taking Tiger Mountain by Strategy'.
The text beneath the image:
用毛泽东思想武装起来的，具有无产阶级革命指挥和勇敢的中国人民解放军侦察英雄杨子荣。   
In English: Yang Tze-jung, a Chinese PLA Scout Hero Armed with Mao Tsetung Thought and Imbued with the Revolutionary Wisdom and Bravery of the Proletariat, in Modern Revolutionary Peking Opera "Taking Tiger Mountain by Strategy". 
The text is also given in German and French.