Taylor has rushed for at least 100 yards in five of the past eight games.
Other AFC honors went to New York Jets linebacker Eric Barton (defense) and Kansas City Chiefs kick-returner Dante Hall (special teams).
Their NFC counterparts were Minnesota Vikings quarterback Daunte Culpepper (offense), Philadelphia cornerback Sheldon Brown (defense) and New Orleans Saints kick-returner Aaron Stecker (special teams).
Hall and Stecker had game-opening kickoff returns for touchdowns, Hall against Denver and Stecker against Tampa Bay.
Barton had nine tackles, one sack, one interception and one fumble recovery against Seattle and Culpepper three three touchdown passes at Detroit. It was his third weekly honor of the season.