Taylor will wear No. 95 this season in honor of former Dolphins defensive tackle Tim Bowens.
Linebacker Bryan Thomas wears No. 99 for the Jets.
Taylor, who signed with the Jets this offseason after 12 seasons with the Dolphins, took part in his first practice with the Jets on Tuesday. The star linebacker, who is the NFL's active leader in sacks, has been named to six Pro Bowls in his 13-year career, which included one year with the Washington Redskins.
"Timbo was one of my all-time favorites," Taylor said, according to the South Florida Sun-Sentinel. "He's the most unselfish, underrated teammate I've ever had."
Bowens, a two-time Pro Bowler who played 11 seasons with the Dolphins and retired after the 2004 season, was honored when he was told of Taylor's decision.
"Wow, that's amazing, man, coming from him," Bowens told the Sun-Sentinel. "It's an honor, man. A Hall of Fame guy like that, a former teammate. I didn't know the guys respected me like that. Wow. That's love."