The `Love Story` hitmaker handed over the vast sum to the Nashville organisation to fund what will be known as the TaylorSwift Education Center, an exhibit and classroom space scheduled to open in 2014.
Museum director Kyle Young said: "In terms of what it will allow us to do, we do education very well now.
"It 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."
The donation is the largest ever given to the museum by a musician and the second-largest they have ever been gifted.
Taylor has a long history with the establishment, signing her record contract there and giving one of her first public performances on the building`s piaza.
She has also volunteered to be part of the museum`s `All for the Hall` fundraisers in the past.
The education facility - part of a larger $75 million expansion of the Hall of Fame - will have three classrooms and exhibit space and gives the opportunity to hold more classes and workshops for teenagers and senior citizens.