Banks, who is battling a rare form of cancer and is receiving treatment at Houston's MD Anderson Hospital, got to FaceTime with the superstar after she and her fellow high school color guard members started a social media campaign, #EbobMeetsBeyonce. Ebob is Banks' nickname.
After the call on Wednesday, friends and fans took to Twitter to celebrate and post pictures of the big moment.
In the clip, Banks tells Beyonce that she loves her, and the singer replies, "I love you."
Banks and her family declined to comment about the call. A rep for Beyonce did not immediately respond to ABC News' request for comment.
Paul Brodt, the director of bands at Alief Hastings High School in Houston, where Banks was a student, told ABC News that the campaign to get Beyonce and Banks to meet was launched last week when the teen graduated early in a special ceremony at the hospital. About 100 people — including her 23 color guard teammates, school faculty members, school administrators and hospital staffers — attended the event.
"Our kids love her to death and would do anything for her," Brodt said about Banks, who has been a member of the color guard since ninth grade.
He said that despite receiving a cancer diagnosis last summer and starting chemotherapy in September, Banks made every effort to attend school as well as color guard practice and competitions. She showed up at a competition just two weeks ago, before her health took a turn for the worse.
Knowing how much Banks loves Beyonce — "She's either listening to her or talking about her. She knows everything about her music and her life," Brodt said — some of Banks' color guard teammates discussed with her the idea of reaching out to the pop star.
Thus the hashtag #EbobMeetsBeyonce was born. After enlisting the help of the entire high school, he said, "they lit a fire on the internet."
When Banks got the call from Bey on Wednesday, her family was there with her, Brodt said.
"I imagine it's a dream come true," he said. "Ebony is such a great kid, all the pleasure should be on Beyonce's side."
Banks, he added, is the real inspiration.
"Ebony has been a part of every success we have had," Brodt said. "Never at any time has she let her sickness slow her down. Whatever inabilities you think you have, you can overcome if you put your mind to it. She's inspired everybody — me along with all of our kids."
Meanwhile, Banks' friends posted on social media to celebrate the call.
"We made it happen! This is why I love alief," one user wrote.