The 22-year-old's earnings are mainly because of her chart topping albums 'Taylor Swift', 'Fearless' and 'Speak Now'. Her gigs also bring in an average of USD 1 million per night and her endorsement work for products such as CoverGirl makeup have also helped to cement her place at the top of the list, reported Aceshowbiz.
Teen pop star Justin Bieber was narrowly beaten into second place after earning USD 55 million, becoming the highest ranked male in the list and the only one in the top five.
R&B star Rihanna was in third place after earning USD 53 million thanks to her 85-night tour and her 2011 hit album 'Talk That Talk' - which spawned singles such as 'We Found Love' and 'Birthday Cake' - while Lady Gaga narrowly earned less than the brunette beauty after earning USD 52 million.
'Firework' hitmaker Katy Perry completed the top five with USD 45 million and British singing sensation Adele was in sixth with USD 35 million earnings.
"Twilight" star Kristen Stewart was at seventh place with USD 34.5 million, while rapper Lil Wayne was on the eighth position with USD 27 million.