Taylor Swift will be receiving a tremendous accolade next month.
On Monday, Billboard announced that they will be bestowing a brand-new award on the "Lover" songstress -- the Woman of the Decade Award -- at the 2019 Women in Music Event on Dec. 12.
The prestigious honor is in recognition of Swift becoming "one of the most accomplished musical artists of all time over the course of the 2010s," according to a statement ET received.
"Along with her countless professional achievements -- including five No. 1 albums this decade, five No. 1 singles on the Billboard Hot 100 chart, three worldwide stadium tours holding the title for the highest selling U.S. tour in history and two Billboard Woman of the Year Awards (the only female artist to have been awarded this honor twice) -- Swift has been an active proponent of creative rights, music education, literacy programs, cancer research, disaster relief and the Time's Up initiative, among several other causes," the statement continues.
The award will be presented to Swift by legendary singer-songwriter Carole King.
The 14th annual gathering will also honor several other giants of the music world, including Alanis Morissette, Brandi Carlile, Nicki Minaj and Roc Nation CEO Desiree Perez. On Monday, Nov. 25, it was also announced that Billie Eilish will be honored with the Woman of the Year award.
The Woman of the Decade Award isn't the only honor the 29-year-old singer will soon be receiving. On Nov. 24, she was honored at the 2019 American Music Awards with the Artist of the Decade Award, and performed a medley of her music.
Last week, Swift ignited a public outcry when she claimed her old label, Big Machine, wasn't allowing her play songs from her back catalogue, which she recorded with them. However, on Monday, Big Machine released a statement explaining that an agreement has been reached and she's in the clear to perform her hits. However, Dick Clark Productions, who are running the awards show, refuted Big Machine's statement.
See more on the evolving situation below.
The 2019 Women in Music Event will stream live on YouTube on Dec. 12 at 6 p.m. PT.