Taylor Swift has been crowned "Woman of the Year" by Billboard magazine.

The 21-year-old singer-songwriter is the youngest to receive the award, (which has gone to Beyonce, Reba McEntire and Fergie).

She will be honored at the 2011 Billboard Women in Music event in New York on Dec. 2.

Her latest album, "Speak Now", has sold over 3.6 million copies since its release last fall, and she's sold the most albums of any artist over the past year.