Tests showed the injury did not appear to be serious, team officials said Thursday. He hurt the knee Wednesday, a day after signing his first pro contract.
Taylor was the Redskins' No. 1 draft choice this year out of Miami. The Washington Post reported he got a six-year contract worth up to $40 million.
Training camp begins Friday.
"If he feels good enough to practice on Saturday, then he'll be out there," Vinny Cerrato, vice president of football operations, told the newspaper.