The 17-year-old celebrated his birthday on Saturday and has now penned a contract at The City Ground, having initially joined from Northern Irish side Linfield.
Taylor made his senior debut for Linfield aged just 15, scoring against Cliftonville in the County Antrim Shield, and made a handful of first-team appearances before joining The Reds in the summer.
The Northern Ireland Under 17s captain has made a good impression since moving to Trentside, scoring eight times for the Under 18s and also making the step up to Under 23s football.