He will be joined by blind marathon runner Dave Heeley OBE and ITV News at Ten political reporter Dan Hewitt at the event at Whitnash Sports and Social Club on Thursday, August 18, from 7pm.
Taylor played in 377 games and scored 131 goals for Albion during a professional playing career in which he played in 749 matches and scored 256 goals.
The other clubs he played for included Leeds United, Bolton Wanderers and Bristol City.
He is Albion's eighth highest goalscorer of all time.
The event is free to all members or £5 on the door.
The supporters club can be joined on the night for a £10 fee.