Billboard have announced they will be crowning Taylor Swift 2014’s 'Woman of the Year' at their annual 'Women in Music' event taking place this December in New York.

Taylor SwiftTaylor Swift has been named Billboard's 'Woman of the Year'

Swift will become the first artist to win the honour more than once, after previously taking the title in 2011. Last year’s recipient was Pink, while past winners include Beyonce and Katy Perry.

"As one of the most influential artists of her generation, Taylor Swift has seen incredible success on the Billboard charts," said Janice Min, the co-president of Billboard’s owner, Guggenheim Media, in a statement.

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“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,” Min added.

It’s no real surprise that Swift has been chosen for the honour, the 24 year old has had tremendous chart success in the past few years, including having just scored a number one with her most recent single, ‘Shake It Off’.

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According to Billboard, Swift is the best-selling digital music artist of all time, with each of her studio albums selling more that four million copies in the United States to date.

Taylor SwiftTaylor hit number one this year with 'Shake it Off'

Swift will release her fifth album, entitled 1989, on October 27th. .