Media playback is not supported on this device
The British Darts Organisation (BDO) world champion will line-up at The Grand Slam of Darts in Wolverhampton.
Mitchell, 45, has been drawn alongside Peter Wright, Dave Chisnall and Mervyn King at the Civic Hall from Saturday.
"I fancied Phil's group when I saw the draw, just for the chance to play against him," he told BBC Radio Solent.
Mitchell will be one of eight representatives from the BDO, with former Lakeside champions Martin Adams and Andy Fordham also making their first appearances at the event.
The Grand Slam is the only major televised tournament in which players from the two rival organisations participate.
"It will be a challenge," said the landscape gardener from Bransgore in the New Forest. "It's a tough group and there's no easy games in there.
"It really is a tough tournament to go to as a BDO player, with the guys from the PDC having so many more television opportunities than we do.
"We really are the novices, but in the past we've done really well and got off to a good start."
Mitchell hopes to get through his group to set up a meeting with defending champion Taylor, who takes on 2014 World Masters winner Martin Phillips, Austria's Rowby-John Rodriguez and England's Robbie Green.
"I'm just going to try to enjoy it," he added. "I'm really looking forward to going up against the boys from the PDC."
Scott Mitchell has revealed he would have loved to have drawn Phil Taylor in his first test against players from the Professional Darts Corporation (PDC).