Taylor and guitarist Brian May were joined onstage by pop star Jessie J for a rendition of the band's classic hit We Will Rock You at the closing ceremony of the sporting showpiece in London last year (12).
Other stars taking part included George Michael, Ray Davies, and a reunited Spice Girls, but Taylor is adamant few of the acts were performing fully live.
He tells the January (14) edition of Reader's Digest, "Queen have played their share of big gigs, but it's difficult to top the Olympic closing ceremony in your own country. It really was a tremendous honour. What was the Tv audience for that show? Actually, I don't want to know - it'll freak me out.
"Another thing I remember is that there were a lot of not-live performances that night. (Not mentioning any names.) We were live, of course."