Byram is set to leave the Championship side for Premier League outfit Everton in the coming days.
Taylor, who can play as a left-back or as a left-winger, has backed Byram to be a success at Everton.
“Sam’s got all the attributes and I’ve grown up with him,” the 22-year-old told The Yorkshire Evening Post. “I’ve played with him since I was 10 and he’s a fantastic player – one who I don’t think will have any troubles (in the Premier League). There’s nothing to say he can’t go in there and perform.”
Taylor has admitted that Byram’s departure will be a massive loss, but he has urged everyone at the club to just get on with it.
“I just wish him the best of luck,” said the youngster. “It’s a great opportunity for him and I wish him all the best for the rest of his career. Every player is different but obviously everyone at the club would have loved to have seen Sam stay.
“He’s a brilliant player, one who brings so many attributes to the team, but we have to get on with it and maybe we can use some of the money to bring other players in. He’s a huge loss but we should try and replace him as well as we can.”
Byram has been on the books of Leeds since 2005 and is regarded as one of the best young players in the Championship.
The 22-year-old scored three goals and created 39 chances in 39 Championship appearances for the Whites last season.
So far this season, the Englishman has scored three goals and created 24 chances in 22 league appearances for the West Yorkshire outfit.
Byram has a pass accuracy of 75% and a shot accuracy of 33%, and has won 34 headers, nine dribbles and 15 tackles.