The 26-year-old singer has been honoured with the accolade - which has previously been awarded to Nicki Minaj and Lady GaGa by the publication - after impressing with her hit song 'Call Me Maybe' earlier this year, and the brunette beauty hopes to inspire others following her triumph.
She said: ''As a singer/songwriter having grown up listening to and being influenced by countless female artists, I am truly honoured to be recognised by Billboard with this award.
''I hope to inspire others through my music the way those artists have inspired me.''
Carly - who shot to fame when she finished third on 'Canadian Idol' in 2007 - will pick up the accolade at Billboard's annual Women in Music event on November 30 in New York, and she will be joined at the ceremony by Katy Perry, who has been named Woman of the Year.
The 'Good Time' hitmaker is up for a string of other accolades this year after receiving an American Music Awards nomination for New Artist of the Year and a hat-trick of nods for the MTV Europe Music Awards including Best New Act and Best Song for 'Call Me Maybe'.