The "Cardigan" singer has long been a supporter of 18-year-old Olivia, but the pair hadn't met prior to the music awards on Tuesday - where the "Drivers License" star performed and Taylor took home the Global Icon award.
Documenting the meeting in a post on her Instagram page, Olivia shared a picture of herself and Taylor pulling funny faces for the camera, alongside tearful, shocked emojis.
In an interview earlier this year (21), Olivia opened up about Taylor being one of her musical idols, explaining, "I would just love to just be in a studio with Taylor. I don't even have to write with her. I just want to watch how she does it because I just think she's such a genius."
"She's totally my biggest idol and biggest songwriting inspiration."
The two linked up after Taylor Swift made it very clear she was a big fan of hers shortly after "Drivers License" was released.
As Rodrigo celebrated her hit single on Instagram, "Next to Taylor on the us i tunes chart i'm in a puddle of tears," Swift was quick to reply, "I say that's my baby and I'm really proud."
Rodrigo later revealed that Swift sent her a ring, "I got a package from her with this, like, handwritten note. And she gave me this ring because she said she wore one just like it when she wrote Red and she wanted me to have one like it... she's, like, hand-wrapped these gifts."