Taylor's jump shot and pair of free throws along with Shaheed Davis' layup made it 59-55 with 2:48 left. Stetson missed its last nine shots, and UCF made five free throws in the final minute to seal the win.
Taylor led the Knights (1-0) with 14 points and nine rebounds and Davis had 11 points and 13 rebounds. Blair and Henriquez each had 11 points and Brandon Goodwin dished out seven assists. UCF hit 20 of 27 free throws.
Pegg finished with 12 points and Rivera added 10 for the Hatters (1-1).