The 32-year-old, who took 130 wickets in 46 Tests, was not considered for the squad which will play against India in the four-test series after he gave a "formal notification" of his decision to retire, the WICB said in a release.
Taylor had made his international debut against Sri Lanka in 2003 and played his last international test series against Australia in January this year.
Plagued by injuries, the Jamaican had spent almost five years out of the Test side between 2009 and 2014.
He has had four five-Test wicket hauls in his 13-year test career. His top score was 106, batting at number 8 against New Zealand in 2008.