She out-earned other famous musicians including Adele ($US80.5 million), Madonna ($US76.5 million), Rihanna ($US75 million) and Bruce Springsteen ($US60.5 million).
The Shake It Off singer also outpaced rival Katy Perry, who was last year's top-earning musician at $US135 million, according to Forbes magazine's annual list of 100 highest-paid celebrities.
Perry dropped to number 63 on this year's list, earning $US41 million.
Rockers AC/DC were the highest paid Australian celebrities, sitting at 17th place on the list after earning $US67.5 million in the past year, according to Forbes.
Swift's huge earnings were largely thanks to her 1989 World Tour during which she smashed the Rolling Stones' North American record, grossing $US200 million on the continent en route to a quarter of a billion worldwide, the magazine said.
Coming in at number two on the list this year was boy band One Direction ($US110 million), followed by author James Patterson ($US95 million).
Taylor's former beau, musician Calvin Harris, also made the cut coming in at number 21 ($US63 million).
"The world's 100 highest-paid celebrities pulled in $US5.1 billion pre-tax over the past 12 months, more than the GDP of Belize, Gambia and Bhutan combined," Forbes said.
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