The Clarets will have to pay compensation to the Whites despite Taylor’s contract having run out at Elland Road due to the fact that he is still under the age of 24.
Taylor has been at the Yorkshire club his entire career, but is eager to make the step up to the Premier League and take on the challenge of competing against top teams.
“I’ve been there since I was nine and I knew it was the right time. There were so many things that attracted me to Burnley; it ticks every box and it was a no-brainer really,” he said.
“That’s the huge attraction of the Premier League, just everything about it. Week in, week out, you are playing teams like Chelsea and Manchester United, so I just can’t wait to get started.”