The `Twilight Saga` actor will be given his own replica waxwork at top London attraction Madame Tussauds and the model will be unveiled in January.
Taylor will join his `Twilight` co-star Robert Pattinson after being one of 2011`s most requested personalities.
Other stars to have waxworks at Madame Tussauds include Rihanna, Justin Bieber, Britney Spears, David Beckham and Brad Pitt.
The news of Taylor getting his own waxwork comes after he, Robert and their other co-star Kristen Stewart had their hand and foot prints immortalised on the Hollywood Walk of Fame.
The trio were introduced by TV talk show host Jimmy Kimmel and Stephenie Meyer - who wrote all the `Twilight Saga` books - and were cheered by the hundreds of fans who had come along to catch a glimpse of their idols.
Speaking to the crowd, Kristen said: "Hollywood, I think this is the coolest thing I`ve ever done in my life. This is insane that I`m doing this."
Taylor, 19, added: "There are a few moments that mean so much, it`s really even hard to explain, and this is definitely one of those."
Robert, 25, was equally moved by the tribute, saying: "This is incredibly scary ... This is such an incredible honour. How young we are, it`s kind of ridiculous and amazing at the same time."
Following their speeches, the three stars then signed their names into the wet cement plaque - which was emblazoned with the words `The Twilight Saga` - and then pressed their hands and feet in.