The defender hasn't been in any of manager Alan Pardew's last six squads, despite being fit.
The last time he featured was the opening day defeat by Man City.
It is clear that Taylor is not in the managers plans and could be allowed to leave on loan or at a knock-down price of around £1.5m.
The player's agent, Willie McKay, said: "Steven is now fully fit, but he is frustrated not to be playing as that is what he loves doing.
"He has not been involved for the last six games and of course it is frustrating.
"Steven fully understands that the team have been on a good winning run and the manager does not want to change a winning team.
"Joe Kinnear has promised Steven a new deal in January and he could be made available for loan if he is not going to be playing for Newcastle."
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