Scans have shown that Taylor has a condition similar to the one which affected former England footballer Fabrice Muamba, whose heart stopped for 78 minutes while playing for Bolton Wanderers against Tottenham Hotspur in 2012. He has since retired from the game.
Taylor has played 7 Tests and 27 one-day internationals for England.
"Safe to say this has been the toughest week of my life!" Taylor posted on his Twitter handle.
"My world is upside down. But I'm here to stay and I'm battling on!"
Taylor missed Nottinghamshire's pre-season fixture against Cambridge MCCU with what was perceived to be a viral condition.
However, his county on Tuesday revealed that Taylor has been diagnosed with Arrhythmogenic Right Ventricular Arrhythmia (ARVC) in a statement in which England team director Andrew Strauss spoke about his "shock" and "sadness".
"Throughout his career, he has constantly impressed with his determination to make the absolute most of his ability," said Strauss.
"It is immensely cruel that such a hard working player will be unable to fulfil his great potential in the international arena."