Peter Thorne, Michael Boulding, a goalscorer against the Cobblers back in October, and his brother Rory have all been released by mutual consent.
With three strikers freed, Taylor has moved quickly to sign Hull City youngster Ryan Kendall.
"Ryan is full of energy and will run all over the place," Taylor told the Telegraph & Argus. "He puts defenders under pressure."
Northampton travel to Valley Parade on the penultimate weekend of the season.