"We're building a good culture here at Wests Tigers and I'm really looking forward to the next three years.
"I'm really excited about the future here, there are a lot of new faces coming, we're really building something special."
The utility player, who spends the majority of his time at either hooker or lock, had been in talks with the New Zealand Warriors about returning to his original club but ultimately decided against the move.
Cleary said that Taylor's experience would be valuable to the club in the coming seasons.
"Elijah is a player that others love to play alongside," he said.
"No task is beneath him and he always puts the team before himself.
"Our fans can look forward to seeing Elijah's game blossom in the coming years, Elijah will play a pivotal role in the future of the Wests Tigers."
The re-signing of Taylor continues a good recruiting period for the club following a tough period for the franchise after losing three of their "big four" in prop Aaron Woods, standoff Mitchell Moses and fullback James Tedesco.
The Tigers have signed new talent in former Warriors back Tuimoala Lolohea, standoff Josh Reynolds, Russell Packer, Ben Matulino and Chris McQueen.
Taylor is looking forward to continuing to be a senior player on a young Tigers side.
"You learn a lot as you go on your journey in your career, I've learnt a lot being through the Warriors and Penrith systems," said Taylor.
"I've seen a lot on and off the field, probably those things off the field have made me a lot smarter and wiser in decision-making and I have a lot of experience that I can pass on to the younger guys coming through here at Wests Tigers."