Pop singer P!nk has been named Billboard's "Woman of the Year" following the immense success of her sixth full-length studio album.

Billboard announced Monday that the Grammy Award-winning pop-artist, P!nk has been honored with the "Woman of the Year" title, for which she will be awarded at the 2013 Billboard Women in Music event to be held December 10, in New York City.

It has been a lucky year for P!nk. Her latest album, "The Truth About Love," was nominated for Grammy earlier this year and secured her the first place on Billboard 200. She has sold 1.7 million copies of her hit album since the release. P!nk's "Just Give Me A Reason," featuring Fun.'s Nate Ruess became one of the biggest summer hits and is her fourth time on the Hot 100 list. The last five albums have managed to stay on the top 10 in the Billboard 200.

"I was absolutely shocked and surprised to hear that Billboard named me Woman of the Year," P!nk said of the honor, according to the report.  "It's been an incredible year and I feel so grateful to radio for sticking by me, and to the fans and friends and all of the incredible talent that I was fortunate enough to work with for this album."

According to Billboard, the popular singer has sold more than 40 million albums and over 20 million digital copies throughout her career.

"When our 2013 mid-year numbers were released, she had the top-selling album and song for a woman, and a blockbuster, sold-out, international arena tour," the magazine's editorial director Bill Werde said in a statement.

P!nk is currently in the middle of a sold-out tour for the new album. Her shows have been extended to a total of 140 worldwide due to increasing demand. She kicked off the first leg of her tour in North America in February.

Previous winners of the high rank by Billboard include Katy Perry, Taylor Swift and Beyoncé.