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Taylor, who beat world number one Van Gerwen 11-5 in the final of the inaugural event in Cardiff in 2016, won a 16th World Matchplay title on Sunday.
The pair will be alongside Adrian Lewis and Raymond van Barneveld in Group A.
Group B consists of Gary Anderson, Peter Wright, Dave Chisnall and Austria's Mensur Suljovic.
The eight-man field will compete for a first prize of £100,000 on 16-17 September, with all sessions of the tournament being broadcast live by the BBC.
Taylor, 56, rose to fourth in the world rankings with his World Matchplay victory, in what was his final appearance in Blackpool before his planned retirement after the 2018 World Championship.
Defending champion Phil Taylor has been drawn in the same group as PDC world champion Michael van Gerwen for September's Champions League of Darts.