The two stars are close friends and Selena - who is dating teenage singing sensation Justin Bieber - knows she can always turn to the 'Love Story' hitmaker when she needs advice.
Selena said: "Every problem I ever have is healable by Taylor Swift.
"What I love about Taylor is she believes in the whole love story - Prince Charming, soul mates. Because of her, I haven't lost faith."
Selena also tries to be a supportive friend to Taylor, and revealed she helped the 21-year-old beauty through her 2008 split from Joe Jonas.
She explained: "When Taylor was going through a hard time breaking up with Joe Jonas, we'd make each other playlists.
"I'd send her some girl-empowering music and she'd send some back.
"We had 'Since U Been Gone' by Kelly Clarkson and 'Hot N Cold' by Katy Perry."
As well as Taylor, Selena is also friends with Demi Lovato and Miley Cyrus, and although there are pop rivals the 'Monte Carlo' actress has never felt jealous of their successes.
She told Top of the Pops magazine: "It's not normal for me to feel jealous. I'm competitive with myself, more than anything.
"And anyway, all of my friends in the business are bigger than me."
