The talented songbirds—who both received three 2013 Grammy awards nominations—will also be performing at the 55th annual show in honor of music's biggest night.
The Black Keys, Mumford & Sons and FUN. will also be taking the stage at the Los Angeles Staples Center, while LL Cool J will be returning as host.
This year, the 24-year-old Barbadian beauty is up for Best Pop Solo Performance for "Where Have You Been," Best Rap/Sung Collaboration (Featuring Jay-Z) for "Talk That Talk" and Best Short Form Music Video (Featuring Calvin Harris) for "We Found Love."
Six-time Grammy award winner Swift performed her hit song "Mean" during the 2012 broadcast and glowed in a gold silk mermaid gown by Zuhair Murad on the red carpet.
The country crooner is up for Record Of The Year, Best Country Duo/Group Performance (with The Civil Wars) and Best Song Written For Visual Media for "Safe & Sound" (from The Hunger Games) this time around.
In addition to their multimillion music careers, both ladies' love lives have been in the spotlight as of late.
Swift has reportedly split with her boy-bander beau Harry Styles after two months together, while Rihanna's on-again-off-again relationship with Chris Brown seems to have yet another rough patch (judging by her latest postings).
Sounds like the perfect time for both ladies to focus on their upcoming performances.
The 55th Annual Grammy Awards will air live at 8 p.m. ET Sunday, Feb. 10 on CBS.
Can't wait to see these two talented gals take the stage!