Ireland is expected to be announced as the host of the Women's European Boxing Championships by European boxing officials next month.
If given the green light, it is the first time that the 26-year-old Bray native will have the opportunity to fight in a major championship at home.
And given her winning history in the competition, she is favourite to hold on to her light weight European boxing title.
Representatives for the Irish Amateur Boxing Association are expected to meet European officials next month to confirm that Ireland will host the European Boxing Championships.
The competition, expected to take place in October, is sure to be a huge attraction following Taylor's historic gold medal victory in last summer's Olympic Games.
The boxer is back in full training and has spoken of her desire to continue competing at the highest level and winning championships between now and the next Olympics in Brazil in 2016.
"I'm still only 26 and I feel I have things to prove and things to achieve in the sports," said Taylor.
It has been a phenomenal year for the female sports star who retained her world boxing title before securing a gold medal for Ireland in the London Olympic Games last August.
Taylor then beat a host of Irish sporting personalities, including golfer Rory McIlroy, to win the coveted RTE Sports Person of the Year award last month.
Ireland is believed to be the only country who have bid to host the Women's European Boxing Championships. Irish boxing officials attended a meeting in Russia before Christmas to thrash out details of their plan to host the event.