Brown, 29, a product of Wolves’ Academy, played for League Two side Cheltenham last season.
Taylor, 23, joins the Dons from Tranmere having made over 200 appearances for the League One side.
Manager Derek McInnes told the club’s official website of his delight with the capture of keeper Brown.
“He is highly regarded,” he said.
“We watched him the whole of last season and we feel we’ve got a more than capable goalkeeper to come in and provide real competition in that area.
“He’s got good experience. He’s a good age for a goalkeeper and again another one who will get better with us.”
McInnes feels Aberdeen are getting Taylor at the peak of his career.
He said: “He’s got a great presence and he’s at a great age. He’s only 23 years old but has already played 200 games in League One in England and he’s a player we think we can work with and improve.
“We faced significant competition from Championship clubs and I am delighted that Ash sees Aberdeen as the right move for his career
“Both players, alongside Shay Logan - who signed a pre-contract on Tuesday - bring a level of experience and ability that will hopefully improve us as a club.
“I’m delighted we’ve been able to sign three key players that we had targeted.
“We will look to bring in one or two others to help strengthen our squad.”