The Arizona Cardinals signed running back Chester year contract on Monday.
Taylor was released by the Chicago Bears on Saturday.
The Bears signed Taylor to a four-year, $12.5 million contract prior to the 2010 season to split ball-carrying duties with Matt Forte, but the 31-year-old wound up as the clear second choice in the backfield after averaging a career- low 2.4 yards on 112 attempts.
Taylor struggled again during this preseason, rushing for just 37 yards on 16 carries over Chicago's four games, and was passed by free-agent addition Marion Barber on the depth chart.
The Toledo product has rushed for 4,663 yards and 25 touchdowns over 139 career games with the Ravens, Vikings and Bears.
Arizona claimed cornerbacks Crezdon Butler (Pittsburgh) and Korey Lindsey (Cincinnati) off waivers. The team also released tight end Stephen Spach, linebacker Quan Sturdivant and defensive end Ronald Talley.