The letter was written to author Betty Shew by the 21- year-old princess in 1947, months before her marriage.
The two-page note describes how the couple met, were chased by a photographer in Prince Philip's sports car and danced at London nightclubs.
It was given a pre-auction estimate of 800 pounds to 1,200 pounds but sold for 14,000 pounds.
Describing it as a "fantastic result", Richard Edmonds of the Chippenham Auction Rooms in Wiltshire said: "It was quite an honour to be able to sell such an important document, particularly as the country is celebrating the Queen's 90th birthday.
The identity of the buyer has not been disclosed, the BBC reported.
The then Princess Elizabeth agreed to share the details of her relationship with Philip, for a royal wedding souvenir book being written by Shew.
In the letter, written in ink on white paper adorned with the royal crest, the princess recalls how she met Prince Philip at the age of 13, describes his love of fast cars and how the couple danced at nightclubs Ciro's and Quaglino's in London.
She and Prince Philip married in November 1947 at Westminster Abbey, the same location as her coronation in June 1953.
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