The 37-year-old Frenchwoman will be making more history, having already been the first woman to have refereed a Ligue 1 match, the UEFA Super Cup, a Champions League match and, as of last month, a World Cup qualifier after taking charge of Holland against Latvia.
Frappart also refereed the 2019 Super Cup final between Liverpool and Chelsea, which Liverpool won on penalties.
Both Taylor, 42, and Oliver, 36, will be making their debuts at a major international tournament.
Taylor took charge of the UEFA Super Cup final between Bayern Munich and Sevilla last September, while Oliver was on Monday named as the referee for the forthcoming FA Cup final between Chelsea and Leicester.
Stuart Attwell, Lee Betts, and Chris Kavanagh will also attend as video match officials.
There is one other new innovation with Argentinian referee Fernando Rapallini appointed to the tournament as part of an exchange with South American federation CONMEBOL which will see Spanish referee Jesus Gil Manzano officiate at the Copa America.