"Portrait of a Man" will be offered Wednesday at Christie's. The presale estimate is up to $1 million.
In 1974, a scholar attributed it to one of Hals' followers, based on a photo of the work.
Christie's says it was reattributed to Hals last year by a former curator at Holland's Frans Hals Museum.
Taylor received the painting from her art dealer father.
Christie's London will sell other paintings from Taylor's collection on Feb. 7-8.
The Hals work was the only Old Master in her collection.
The actress died in March at age 79.
