The Irish fighter takes on Amanda Serrano in the co-main event in Texas on November 15 and is worried that the boxing legend could get hurt as he competes against a much younger opponent in the form of the social media star.
Taylor told talkSPORT: "Yeah, there are obviously concerns there. I don't want to see him getting hurt.
"As an icon of the sport, I have so much respect for Mike Tyson as a fighter and what he has done for the sport.
"He's in there against a real young, fresh guy in Jake Paul and he's a good athlete as well.
"But Mike Tyson seems to be very confident in himself. He seems to be putting the work in and training hard so I hope he comes out on top.
"But we will see what happens. That is what makes this such an amazing spectacle, you don't know what is going to happen in this fight so everybody is going to be tuning in and it's going to be very interesting."
Taylor admits that she hasn't got a clue who will win the fight as Tyson's punching power could be counteracted by Paul's youthful athleticism.
The undisputed super lightweight world champion said: "I don't know, I really hope Mike Tyson pulls it off but Jake Paul is a young man, he is fresh, he's a good athlete, he seems to punch ok so I have no idea.
"But, then again, I don't know how good Jake Paul takes a shot, I don't know how good his chin is.
"Mike Tyson can catch anyone with a good shot so it's going to be very interesting. I'm obviously rooting for Mike Tyson."