The Cheshire-based official will take charge of his first game involving Newcastle since the final day of the 2015/16 campaign, when the Magpies memorably beat Tottenham Hotspur 5-1.
That day, he sent off United's Aleksandar Mitrovic. So far this term, he has yet to show a red card in 17 matches in all competitions but has flashed 68 yellow cards.
Beginning his refereeing career in the Northern Premier League in 2002, Taylor is now regarded as one of the country's top officials. He has been the man in the middle for three Champions League fixtures this season, having taken charge of last season's Emirates FA Cup final.
In 2015, he refereed both the FA Community Shield and the League Cup final.
On Saturday, he will be assisted by Adam Nunn and Lee Betts. Mike Jones will be the fourth official.