Taylor's Island, originally Cedar Island, is located in Coecles Harbor, and is connected by a sandy isthmus called a tombolo to the rest of Shelter Island. The Island and its historic Smith-Taylor Cabin, built around 1900 by F. M. Smith, was a gift to the Town of Shelter Island from S. Gregory Taylor for the "use and enjoyment of the general public."

The Taylor’s Island Preservation and Management Committee and the Taylor’s Island Foundation exist to restore the Island and fulfill Mr. Taylor's wish.

The Smith-Taylor Cabin is listed on the New York State Register of Historic Places and on the National Register of Historic Places.

Taylor's Island is part of the Coecles Harbor Marine Water Trail. The trail is a joint project of the Town of Shelter Island, The Nature Conservancy, and Kayak Shelter Island.