Taylor Swift, Billboard Woman of the Decade Award

Valheria Rocha

We need to calm down because Taylor Swift is Billboard's first-ever Woman of the Decade!

On Monday, Billboard announced that the "Lover" singer will receive the momentous award at its 2019 Women in Music Event, which highlights the industry's most powerful female artists and executives. Swift will be honored for her musical achievements spanning across her 12-year career, including five No. 1 albums, five No. 1 Billboard Hot 100 singles and three worldwide stadium tours. The Grammy-winner has also made history along the way. She currently holds the record for the highest selling U.S. tour in history and is the only female artist to be awarded the Billboard Woman of the Year Award twice.

The "ME!" singer isn't the only star that will be honored at the 14th Annual Billboard Women in Music Event. Fellow artists Alanis Morissette, Brandi Carlile, Nicki Minaj and more will be awarded at the big event as well.

Last year's honorees included Cindi Lauper, Janelle Monáe, SZA, Kacey Musgraves and Ariana Grande, who was 2018's Woman of the Year.

This is actually Swift's second woman of the decade award this year. She will also be named Artist of the Decade at the 2019 American Music Awards. In addition to being honored, the 23-time AMAs winner is set to perform at the big show, which airs on November 24.

The AMAs could be another history-making night for Swift, who is up for five awards. If she wins, she'll beat Michael Jackson's record for most wins. The late singer has 24 wins.

Want to watch Swift make history at the 14th Annual Billboard Women in Music Event? You can stream it live on December 12 on Youtube.com/Billboard.

Watch the 2019: What E! Year end-of-year special Tuesday, Dec. 17 at 10 p.m.! E! News returns Monday morning, Jan. 6 at 7 a.m.!

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