The 30-year-old has played 66 tests since making his debut in 2015 and was part of the Rugby World Cup 2015-winning squad.
"I'm hugely grateful for another opportunity to play in New Zealand, especially given the current Covid situation around the world," Taylor said.
"My wife Lucy and I have a young family, and putting my family first was a big part of my decision. We love it here in Christchurch and we're settled and happy.
