Taylor picked up the injury during the Carling Cup game with Leicester City.
Boss Malky Mackay confirmed "We`ve had him scanned and they reckon he`s going to be a couple of weeks."
"We are obviously disappointed, but it could have been worse, we might have been looking at six weeks."
Taylor himself tweeted:
Grade 1 tear..... Good news! Shouldn't be out too long!
Mackay has the option of bringing in Lee Naylor (who replaced Taylor on Wednesday) or switching Kevin McNaughton to left back and using Darcy Blake or Paul Quinn at right back.