The CPL is the latest lucrative Twenty20 tournament to arrive on the back of the Indian Premier League's coat-tails and Taylor, controversially replaced as Black Caps skipper by Brendon McCullum last year, has become its latest big-name signing.
Australian greats Ricky Ponting and Adam Gilchrist have already signed up, while Darren Sammy, Dwayne Bravo, Chris Gayle, Sunil Narine, Kieron Pollard and Marlon Samuels have been confirmed as the domestic franchise players.
Taylor said: "I am very excited about playing in the first ever edition of the Caribbean Premier League. As current World Champions the West Indies have been a force in T20 cricket over the past couple of years, and CPL should help uncover new international superstars in the mould of Kieron Pollard and Sunil Narine.
"The Caribbean is one of my favourite places to play cricket and with the passionate crowds, the great atmosphere and the athletic style of play, I'm looking forward to being a part of this exciting competition."
The competition, featuring six sides, is due to begin in July.
- Sports & Recreation
- Arts & Entertainment
- Indian Premier League
- Kieron Pollard
- Sunil Narine
- Darren Sammy
- Ricky Ponting
- Dwayne Bravo