Taylor spent the last two seasons with the Minnesota Vikings where he caught 107 passes for 1,255 yards with seven touchdowns.
In seven seasons, Taylor has caught 311 passes over 100 games, including 90 starts, for 4,013 yards with 22 touchdowns. He has 53 career receptions of 20-plus yards.
Taylor was originally selected by the Baltimore Ravens in the first-round, 10th overall, of the 200 NFL Draft. He spent five years with the Ravens before moving on to Minnesota.
Contract terms not disclosed.