Taylor Swift has been chosen as Billboard's Woman of the Year for 2014.
The Shake It Off singer was picked as she has "shaped and inspired the music industry with her success, leadership and innovation over the past 12 months".
Taylor is the first artist to receive the title twice, having previously been honoured in 2011.
The 24-year-old tweeted: "Thanks Billboard. Also thanks, YOU. (Does dorky celebratory dance then trips over a cat toy)."
Janice Min, co-president and chief creative officer of Guggenheim Media's Entertainment Group, said: "As one of the most influential artists of her generation, Taylor Swift has seen incredible success on the Billboard charts. Over the course of her career, she's charted 60 entries on the Billboard Hot 100 - the most of any female artist since her debut in 2006.
"We are tremendously excited to be honouring her as the 2014 Billboard Woman of the Year for the second time."
Taylor is now appearing on the cover of the magazine's annual Women in Music issue.
In an interview with the magazine she discussed the way she won't compromise when it comes to her music and revealed that there were concerns when she decided to make her recent pop album 1989.
She said: "I remember all the sit-downs in the conference rooms... they said, 'Are you really sure you want to do this? Are you sure you want to call the album 1989? We think it's a weird title. Are you sure you want to put an album cover out that has less than half of your face on it? Are you positive that you want to take a genre that you cemented yourself in, and switch to one that you are a newcomer to?'
"And answering all of those questions with 'Yes, I'm sure' really frustrated me at the time - like, 'Guys, don't you understand, this is what I'm dying to do?'."