Taylor has joined the cast of the jungle-themed ITV reality show, which gets underway later this month, according to The Sun.
"Hugo is good looking and sexy - just what we want to help pull in female viewers," a programme insider told the paper.
"Of course, if he chooses to reveal secrets about all of his posh mates, then so much the better."
Taylor quit Made in Chelsea earlier this year and described his move as "a big gamble".
"Originally the producers only wanted me as a peripheral character and that's all I wanted to contribute," he said this summer. "I could wind up having absolutely everything or I could end up with nothing. But I've become lazy and comfortable on the show."
I'm a Celebrity... Get Me Out of Here! returns to ITV1 on Sunday, November 11.
Watch a preview video for I'm a Celebrity featuring hosts Ant and Dec below: