A Noerdlinger Media press release Saturday said Taylor's 37 years with the magazine for African-American women will be recognized at next Tuesday's event that will feature appearances by Winfrey, music producer Sean Combs and author Terry McMillan.
Proceeds from the Dec. 2 ceremony will benefit the National CARES Mentoring Movement that is dedicated to pairing vulnerable African-American children with a caring mentor.
National CARES, which was founded by Taylor as Essence CARES, currently operates in more than 50 U.S. states.
Other notable attendees will include noted poet Ruby Dee, radio host Michael Eric Dyson, rapper Common and outspoken activist, the Rev. Al Sharpton.