The British musician beat Rush's Geddy Lee and The Cure's Simon Gallup to claim the title in the survey compiled by MusicRadar.com and electronics firm Orange Amps.
Taylor topped the bassist list with 30 per cent of the public vote, prompting editors at the web publication to crown him their king, stating, "John Taylor nailed technical runs while always serving the song. He's often hailed as an underrated player, so it's about time that he was given his due."
Surprisingly, former Beatle Sir Paul MCCartney doesn't make the top five, but joins Red Hot Chili Peppers star Flea, The Who's late bassist John Entwistle, Led Zeppelin rocker John Paul Jones, Black Sabbath's Geezer Butler and Pink Floyd's Roger Waters on the list.
They're all beaten by Taylor, Lee, Gallup, Level 42's Mark King and jazz musician Jaco Pastorius.