The Official Online RBS 6 Nations Store is open. The store has everything you need to get behind your team during the RBS 6 Nations, plus the store is now fully stocked with a much wider range of rugby merchandise.
Welsh player of the year in 2000, Taylor played for Pontypool, Swansea, Llanelli Scarlets and Sale Sharks before joining the Ospreys last summer.
He also toured Australia with the 2001 Lions, who were coached by former Wales boss Graham Henry.
Taylor said: “I just feel that now is the right time.
“I am 35, I’ve had an enjoyable and successful career and I feel that opportunities for me to get regular rugby are only going to get less and less, so I think it is best to make the decision myself rather than have someone make it for me.
“I’ve got no immediate plans for the future and I am going to take a short break, but I can’t see me playing any further rugby at a lower level.
“I have suffered with knee problems throughout my career, so it is a case of quitting while I’ve still got my health.
“I’ve got many happy memories of my time as a player to take with me.
“As a young boy I always dreamt of playing for Wales but never imagined it would be true, so to not only do that, but to captain my country, score the first try at the Millennium Stadium and to win a Grand Slam (2005) are fantastic memories.”