Taylor Swift will present and perform at the Rock and Roll Hall of Fame Induction ceremony

The 40-year-old singer is also scheduled to perform at the Hall of Fame Induction.

Elsewhere, Sir Paul McCartney, Drew Barrymore and Angela Bassett will be among the star-studded list of presenters later this month.

Drew will induct the Go-Go’s, while Angela will induct Tina Turner, whom the actress previously played in the 1993 drama 'What's Love Got to Do with It'.

What's more, Lionel Richie is set to attend the event, where he'll induct music ex ecutive, entrepreneur, and film producer Clarence Avant into the Rock and Roll Hall of Fame.

Clarence, who is also known as The Black Godfather, is poised to receive the Ahmet Ertegun Award for his career achievements in the music business.

The upcoming event will actually see Taylor and Carole switch places, after the 79-year-old star presented the 'Love Story' hitmaker with her Artist of the Decade accolade at the American Music Awards in 2019.

At the time, Carole hailed Taylor's "extraordinary" impact around the world.

In her speech at the event, Carole explained: "Over the years, I have known some great songwriters and I have also known some great singers and performers.

"It’s rare to see all those talents in one person … She is one of the only modern pop artists whose name (sometimes) appears as the sole songwriter in her song credits.

"Her lyrics resonate across all generations, her songs touch everyone and her impact around the world is extraordinary."