Taylor led a parade of five starters scoring in double figures for the Jayhawks (31-6), who advanced to the national semifinals for the first time since 2008, when they won the NCAA title.
Thomas Robinson contributed 18 points and nine rebounds, while Jeff Withey supplied 15 points, eight rebounds and three blocks for Kansas, which finished the game on a 12-0 run.
Travis Releford provided 11 points and Elijah Johnson chipped in 10 for Kansas.
The top-seeded Tar Heels (32-6) were without starting point guard Kendall Marshall, who suffered a broken bone in his team's win over Creighton.
Freshman James Michael McAdoo scored 15 points, Harrison Barnes added 13 and Tyler Zeller contributed 12 for UNC, which was eliminated in the Elite Eight for the second straight year.