In the book which promises "all the gossip unfit to print from the glory days of Hollywood", Prince and Porter claim Reagan was 36 when he invited a teenage Taylor to dine with him at his Hollywood Hills home, where she seduced him, the Daily Express reported.
She is believed to have told a close pal, "Reagan was treating me like a grown woman, and that thrilled me. We sat on his sofa and I could tell he wanted to get it on but he seemed reluctant to make the first move. I became the aggressor.
"After a heavy make-out session on the sofa, we went into the bedroom."
The book further goes on to claim that a nude dip in the politician's pool turned into a threesome with Taylor and Stack.
The authors claim the actress went on to have sexual encounters with stars including Peter Lawford, Errol Flynn, Tony Curtis, Paul Newman and Frank Sinatra.
The book isn't a flattering portrayal of the star, and claims that when her romance with Frank Sinatra petered out, she tried to trap him, telling him she was pregnant with his child in an attempt to blackmail him into marrying her.
The actress, who died at the age of 79, was married seven times (twice to the actor Richard Burton).