Kanye plunked down a huge chunk of change -- $14,495,000 -- for an estate called Bighorn Mountain Ranch ... a sprawling property outside Cody, WY, known for its beautiful hikes and climbs.

The ranch has mountains, rolling hills, canyons and bluffs filled with wildlife -- as well as some of the best trout fishing in the state, thanks to the creeks running through the 6,713-acre property.

BMR has been around since 1906, but it's pretty modern now with 2 heated helicopter pads. There are also several log cabins and lodges with walk-in saunas and sweeping views of the surrounding mountain ranges.

If you're looking for world-class elk hunting, hit up Ye ... his new pad has that along with deer, antelope, pheasants and turkey. Sounds like he's gonna love roaming around the property on his ATVs.

It's Kanye's second massive, $14 million ranch in the Cowboy State. As we first told you, back in September he scooped up Monster Lake Ranch. Now, he's planning to build a huge amphitheater on that land.

Dax Hayden and Bill Vacek of Hayden Outdoors Real Estate had the listing.