The 23-year-old underwent surgery on multiple fractures last night and is expected to make a full - albeit lengthy - recovery.
Taylor fell awkwardly in the first half at the Libetry Stadium, trapping his foot underneath himself and taking the weight of Sunderland's Craig Gardner on top of him. The Swans' head physotherapist Kate Rees has said that he is expected to be out for the rest of the season.
Rees said: "The surgeons worked hard on Neil's injury and did a very good job.
"He is comfortable and the surgeons are happy with the operations.
"While he should make a full recovery, the extent of the injury means Neil is likely to miss the rest of the season."
Taylor represented Team GB at the Olympic Games this summer.