She is slated to get the honor at Billboard's "Women in Music" event on Dec. 2 in New York City.
Minaj said Wednesday she was "deeply honored to be recognized by Billboard." She said she and her fans have come a "mighty long way" but are not close to where "God will take us."
The rapper and singer has emerged as one of music's most popular entertainers since releasing her debut album "Pink Friday" late last year. Her hits include "Super Bass" and "Moment 4 Life." She'll have one of her biggest fans on hand as well: Taylor Swift is also being honored as the woman of the year.