Singer Taylor Swift has been named Woman of the Year for 2014 by Billboard magazine, an honour that goes to a female artist who "has shaped and inspired the music industry with her success, leadership and innovation over the past twelve months."

"As one of the most influential artists of her generation, Taylor Swift has seen incredible success on the Billboard charts," eonline.com quoted Janice Min, co-president and chief creative officer of Guggenheim Media's Entertainment Group, as saying.

"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,` Min added.

Swift will receive the prize at the Billboard Women in Music award ceremony Dec 12 in New York.