Taylor is on the transfer list at Molineux after being told he is surplus to requirements by Wolves boss Dave Jones, but he fits the bill for Grimsby, who have been on the look-out for a target man.
"I'm delighted that we have got our man. We need some height and presence up front. Robert is just the kind of man that has been missing since Steve Livingstone has been unavailable, and his inclusion gives us more options, especially in the air," Groves said.
"He has the experience, and he's played for some big clubs at this level. We feel that he'll be able to give considerable help to our young strikers too. He has a great deal to offer us, and we're looking forward to getting to work with him."
"It's certainly given us a boost ahead of the Crewe Alexandra game."
Groves will be hoping he is the answer to the clubs chronic goalscoring problem, which has seen them fail to find the net so far this year and suffer a humbling FA Cup defeat at the hands of Third Division minnows York City.
