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The 'Marry The Night' singer earned an estimated $90 million over the past twelve months thanks to the success of her second album 'Born This Way', her extensive 'Monster's Ball' tour as well as a large number of endorsement and promotion deals.
Gaga earned almost double the next entry on Forbes' list as coming in second is country-pop singer Taylor Swift with $45 million followed closely by 'Teenage Dream' singer Katy Perry, whose second album and 'California Dreams' tour earned her a healthy $44 million.
Rounding out the top five highest female earners is 'Love On Top' singer Beyonce with $35 million and Rihanna, who released two albums in 2011 as well as embarking her 98-date worldwide 'Loud' tour to earn $29 million.
British singer Adele also makes the annual list thanks to the success of her recent album '21' which helped land her in ninth position with an estimated income of $18 million.