Swift's "You Belong With Me" beat out Beyonce's "Single Ladies" -- as well as Lady Gaga's "Poker Face," Kelly Clarkson's "My Life Would Suck Without You," Katy Perry's "Hot N Cold" and Pink's "So What" -- for the best female video prize.
"Thank you so much! I always dreamed about what it would be like to maybe win one of these some day, but I never actually thought it would happen," Swift, 19, said upon taking the stage to collect her moonman statue. "I sing country music, so thank you so much for giving me a chance to win a VMA award."
West then interrupted Swift's acceptance speech, grabbing the microphone from her and declaring: "Yo, Taylor, I'm really happy for you. I'm going to let you finish, but Beyonce had one of the best videos of all time -- one of the best videos of all time!"
The stunt received a mixture of boos and cheers from the crowd. Beyonce and Swift looked surprised by the move.
Swift's closing remarks were drowned out by the audience and she was seen waving as she left the stage.