He joins the Academy alongside Patron for Industry, music executive Nigel Elderton, and Patron for Education, Lord Lingfield.
Surrey resident Taylor cut the ribbon last year on the Academy's 80-seat Roger Taylor Zildjian Studio where he delivered a master class to ACM students and donated Queen memorabilia to display in the performance studio.
Taylor said: "I am delighted and honoured to be a patron of the Academy of Contemporary Music. Amazing places like this didn't exist when we were learning to be a group.
"I can't imagine the impact it would have had: I guess we would have been a whole lot better. I wish all students at least some of the luck, life and career that I have had!"
Julia Leggett, executive director at ACM, said: "Roger embodies everything about ACM, from his passion for performing, to the talent and hard graft on which he has built his astonishing career.
"Roger is a musical icon who our students and staff really look up to. We are incredibly proud to have him on board."
ACM UK alone is home to 1,200 full-time and 400 part-time students. With additional campuses across Europe, South Africa and the US, high-profile alumni include Amelle Berrabah (Sugababes) and current number one album artist Newton Faulkner.