Born in London, Taylor was educated at St. Paul's School, and devoted himself to the study of the classics and of mathematics. After first working as a clerk in Lubbock's Bank, he was appointed Assistant Secretary to the Society for the Encouragement of Art (precursor to the Royal Society of Arts), in which capacity he made many influential friends, who furnished the means for publishing his various translations, which besides Plato and Aristotle, include Proclus, Porphyry, Apuleius, Ocellus Lucanus and other Neoplatonists and Pythagoreans. His aim was the translation of all the untranslated writings of the ancient Greek philosophers.
Taylor was an admirer of Hellenism, most especially in the philosophical framework furnished by Plato and the Neoplatonists Proclus and the "most divine" Iamblichus, whose works he translated into English. So enamoured was he of the ancients, that he and his wife talked to one another only in classical Greek