Players involved in Six Nations teams will play for The North against the best of the Tri-Nations countries representing the southern hemisphere in the match at Twickenham.
Full-back Paterson and back-row man Taylor, will be the only Scottish representatives on the field, and both men will be looking to show that they can compete with the best players in the world.
Lions head coach Sir Clive Woodward is taking charge of the northern side for the match, which is designed to raise money for the United Nations World Food Programme and their relief efforts to assist communities affected by the Boxing Day tsunami.
But Scottish Rugby Union director of rugby Ian McGeechan has told organisers of the game that other internationals will be made available if necessary.
He said: 'We agreed with the organisers that, fitness pending, all leading players would be available for selection.
"While Gordon Bulloch and Chris Cusiter have had to withdraw, we are delighted to be providing two world class players in Simon Taylor and Chris Paterson, who were in the starting XV for our last international, and will be happy to provide others if required."