Championship sides dominate the squad, with Taylor naming three players from Hull City - who he manages along with the England U-21 side.
Taylor said: "I don't get to see every player so I've looked at the situation and spoken to certain managers.
"The squad I've selected is a big one but it needs to be as the game is a while away and you have to allow for things like injuries.
"But I'm sure the 16 players who make up the squad on the night will form a strong, competitive side."
Squad:
Goalkeepers: Lee Camp (Derby), Scott Flinders (Barnsley), Ross Turnbull (Crewe), Jamie Young (Rushden & Diamonds).
Defenders: Gary Borrowdale (Crystal Palace), Luke Chambers (Northampton), Andrew Davies (Derby), Simon Francis (Tranmere), Andy Holdsworth (Huddersfield), Dean Lewington, Matthew Mills (Southampton), Wes Morgan (Nottingham Forest), Richard Stearman (Leicester), Kelvin Wilson (Notts County), Scott Wiseman (Hull).
Midfielders: Chris Eagles (Watford), Billy Jones (Crewe), Anthony McNamee (Watford), James Perch (Nottingham Forest), Ryan Smith (Leicester), Tom Soares (Crystal Palace), Simon Walton (Leeds), Ben Watson (Crystal Palace), John Welsh (Hull), Simon Whaley (Preston).
Strikers: Dexter Blackstock (Southampton), Matt Fryatt (Leicester), Cameron Jerome (Cardiff), Leroy Lita (Reading), Izale McLeod (MK Dons), Billy Paynter (Hull), David Nugent (Preston), Ashley Young (Watford).