The sizable donation will go to establishing the Taylor Swift Education Centre, which is to provide music training to children from across the US.
© PA Images / Isaac Brekken/AP
A spokesperson for the Country Music Hall of Fame and Museum told The AP that the 7,500 square feet Taylor Swift Education Centre is expected to open in Nashville in 2014.
Kyle Young, one of the museum's directors, said: "[The money] will allow us to do what we do better, serve more people, develop new programmes and I'm happy to say that as we talked through this opportunity with Taylor, she very much wants to be involved in an advisory capacity in what we do.
"Is there a better person out there who's in touch with a young audience? I think not. I was joking we should be paying her to do that. I was only joking."
Swift's donation serves as the largest single monetary gift ever given to the organisation by an artist.
The Taylor Swift Education Centre will be part of the Country Music Hall of Fame's campaign to increase music education from students of all ages.
Swift previously gave $68,000 (£42,888) worth of books to a cash-strapped Wyomissing, PA library last year.
Watch Taylor Swift's 'Mean' music video below:
