Billboard has named Taylor Swift its Woman of the Year. The 21-year old becomes the youngest recipient of the award, which will be presented at Billboard 2011 Women in Music event Dec. 2 in New York.

The award, which has honored Beyonce, Lady Gaga, Fergie, and Reba McEntire in the past, salutes a female artist who has experienced not only a stellar sales year but has continued to have creative breakthroughs.

Swift has spent much of 2011 on the road, supporting her third album, “Speak Now.” That set debuted on top of the Billboard 200 with sales of more than 1 million copies in its opening frame. Her last album, “Fearless,” captured album of the year at the 2010 Grammys. She is nominated for six Country Music Assn. Awards, including entertainer of the year. The CMAs will be held in November.

Swift’s “Speak Now” tour lasts until Nov. 22. Also upcoming for Swift are DVD releases of her “Fearless” and “Speak Now” tours.