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They grow up so fast! Country cutie Taylor Swift has been chosen as this year’s recipient of Billboard’s Woman of the Year Award!

OK! NEWS: WATCH TAYLOR SWIFT’S ENCHANTING ‘WONDERSTRUCK’ FRAGRANCE COMMERCIAL

Billboard announced today that Taylor, a four-time Grammy winner, will receive the Woman of the Year Award at the 2011 Billboard Women in Music even in NYC on Dec. 2.

At just 21-year-old, Taylor is the youngest artist to receive the award!

Taylor is currently on her Speak Now World Tour for her third album which sold over a billion copies in its first week. She made history on the Hot 100 chart by having charting 11 songs from the album in one week.

OK! NEWS: WATCH T.I. PERFORM “LIVE YOUR LIFE” WITH TAYLOR SWIFT!

The other night, Taylor performed in Dallas and has special guest B.O.B accompany her on stage to sing “Airplanes.”

“Tonight was like a dream,” she Tweeted. “That crowd.. The biggest indoor stadium in the world. And singing ‘Airplanes’ with B.O.B. !!!!! (@bobatl)”

And it looks like more of her dreams are being fulfilled. Congratulations, Taylor!

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