Taylor held his first training session with Gills' squad on Tuesday having been placed in temporary charge of the League One club 24 hours earlier following the sacking of Martin Allen over the weekend.
Chairman Paul Scally revealed on Monday he had already received a huge response from potential new candidates and considering the correct appointment is going to be a lengthy process.
And Taylor, who led the Gills to promotion himself during one season at Priestfield in 1999/00, has thrown his hat into the ring when asked whether he would like the job on a permanent basis.
"I would love it, I would absolutely love it but it's a bit of a different situation where you've got to win some matches," Taylor told the club's official website. "I think the Gillingham fans and everybody want to see some improvement.
"I was always hopeful there would be a chance, but hopeful maybe it could be long-term and permanent, but at the minute it's interim and I've said to the staff and the players I can understand 100 per cent why the chairman is going that route.
"He wants to make sure he makes the right decision."