He made the announcement Wednesday in Miami.
"After 15 years of doing this and 13 here in Miami this will be my last game as a Miami Dolphin and as a professional football player," Taylor said at a news conference. "So I look forward to enjoying this week and soaking it all in for the next few days, but we have a game left to play, so while there will be a time for thank yous and good-byes and all that, this is not the time."
Dolphins owner Stephen Ross said Taylor exemplifies what it means to be a professional athlete and a role model.
"While he may be retiring as a player, he will always remain an integral part of the Dolphin family, contributing to the team and the community he has grown to love," Ross said in a statement. "We congratulate him for all he has done, and we are looking forward to continuing to work with him as he begins the next chapter of his life."
Notable deaths of 2014 [PHOTOS]