Taylor's father, Wayne, was a driver in the IMSA GT Championship in the 1990s, so Ricky and brother Jordan grew up in Florida. After competing in karting, Ricky was series champion of single seaters' school Skip Barber Southern in 2006 and runner-up of Skip Barber National in 2007.

In 2008, Taylor debuted in the 24 Hours of Daytona for the Grand-Am series with a Riley-Pontiac in the Daytona Prototype class for Wayne Taylor Racing, resulting fifth with Max Angelelli, Michael Valiante, and his father Wayne Taylor. Months later, contested the Virginia round with the Beyer team, accompanied by Andy Wallace and Jared Beyer. Later, Taylor joined Doran's team to participate in the final six races of the season with a Dallara-Ford, earning a fifth-place finish with Burt Frisselle.

Taylor became a regular driver for Beyer in the 2009 season of the Grand-Am series, using first a Riley-Pontiac and then a Riley-Chevrolet. He earned a fourth, an eighth, and a ninth-place finish in the last three races to finish 18th in the drivers' championship in the Daytona Prototype class.

Wayne Taylor hired Ricky to contest the 2010 Rolex Sports Car Series with a Dallara-Ford. Accompanied by Max Angelelli, he captured one win and seven podiums and sixth place in the 24 Hours of Daytona. He finished second in the drivers' championships and teams in the DP class, behind Scott Pruett and Memo Rojas and his nine victories.

In the 2011 Rolex Sports Car Series season, Taylor was behind the wheel of a Dallara-Chevrolet. He scored three victories (one of them in the 6 Hours of Watkins Glen) and eight podium finishes, and a fifth place in the 24 Hours of Daytona. As a result, he finished as runner-up in the DP class behind Pruett and Rojas again.

Adopting new Chevrolet Corvette DP in 2012, Taylor recorded three wins and seven top 5s in 12 appearances. He finished seventh in the driver standings and fifth among the teams in the DP class. Later, he contested the Gold Coast 600 of V8 Supercars in a Holden Commodore from Garry Rogers Motorsport alongside Greg Ritter; however, he had a frightening rollover several hundred metres after the start whilst trying to avoid two stricken cars.

Taylor became a driver in the Spirit of Daytona Racing for the 2013 Rolex Sports Car Series season, teaming with Richard Westbrook. He earned a third place, three fifths, and a sixth, finishing 11th in the drivers championship and eighth among teams in the DP. He also obtained a fifth place in the GTE-Am class at the 24 Hours of Le Mans, driving a Chevrolet Corvette in the Larbre Competition.

Beginning with the 2018 Roar Before the 24, Taylor partnered with Helio Castroneves in one of two new Acura ARX-05s fielded by Roger Penske. Taylor and Castroneves won the 2020 WeatherTech SportsCar DPi Drivers' Championship, after finishing 8th at the season finale at the 12 Hours of Sebring.

In 2012, Taylor was selected by Garry Rogers Motorsport to participate in the 2012 Armor All Gold Coast 600 event for V8 Supercars as an "international" co-driver. In his first-ever standing start, he managed only 200m before he rolled over a car that had stalled on the grid, totalling his #33 Holden VE Commodore and resigning himself and team-mate Greg Ritter to the sidelines for the rest of the weekend.

Complete 24 Hours of Le Mans results edit

‡13th in LMP2. Fourth in LMP2 Pro-Am.

Complete IMSA SportsCar Championship results edit

(key)(Races in bold indicate pole position)

^* Season still in progress.

Complete European Le Mans Series results edit

(key) (Races in bold indicate pole position; results in italics indicate fastest lap)

Complete FIA World Endurance Championship results edit

(key) (Races in bold indicate pole position) (Races in italics indicate fastest lap)

• Ricky Taylor driver statistics at Racing-Reference
• Ricky Taylor career summary at DriverDB.com
• Ricky Taylor in Race Database