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

The 'Shake It Off' singer is being honored by the magazine for having "shaped and inspired the music industry with her success, leadership and innovation over the past 12 months".

Swift will be celebrated at the Billboard Women in Music Awards in New York City on December 12.

Janice Min - of Billboard's parent company Guggenheim Media - announced the award: "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 honoring her as the 2014 Billboard Woman of the Year for the second time."

Swift was previously named Woman of the Year by the publication in 2011.

Previous recipients of the award have included Katy Perry, Beyoncé, Fergie and P!nk.

Swift has also been the recipient of 7 Grammy Awards and 15 American Music Awards during her career.

Her fifth studio album 1989 is released on October 27.