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Andy Hessenthaler will be in charge for Gillingham's League 1 match at Port Vale on Saturday.
He returned to the club in the summer as Taylor's assistant. Hessenthaler was previously in charge of Gillingham between 2000 and 2004 and again between 2010 and 2012 - a combined total of 329 matches.
Gills have yet to announce whether Hessenthaler will remain in charge for the remainder of the campaign or whether they are already actively searching for a new manager.
The 49-year-old played over 300 games for Gillingham while his managerial career also saw a successful spell at non-league Dover.