New Zealand, who went into this match knowing victory would secure their place, in the second phase, Super Eight stage, were in trouble at nought for one after Lou Vincent suffered his second successive duck of the tournament.
But Taylor who suffered a hamstring problem late in his innings, helped the Black Caps recover from nought for one as they posted the highest one-day international total in 12 matches on this ground, surpassing Pakistan's 303 for six against the West Indies in 2005.
Craig McMillan, who made 71 off just 48 balls with five sixes and three fours, took New Zealand past the 300 mark with some typically blazing hitting.
Scott Styris, who sealed New Zealand's six-wicket win against England with an unbeaten 87, weighed in with 63 off 62 balls after being dropped twice.
Together with New Zealand captain Stephen Fleming (60), Taylor put on 105 for the second wicket.
Kenya didn't help their cause with 29 extras, including 21 wides.
New Zealand suffered an early setback, after losing the toss, when Vincent, out for nought against England, edged Thomas Odoyo's fourth ball to Kenya captain Steve Tikolo at second slip.
But the Kiwis fought back through Fleming and Taylor.
However, Taylor was dropped on seven when he turned Peter Ongondo to the on-side and a diving Tanmay Mishra at square leg just failed to hold what would have been a spectacular one-handed catch.
In front of a sparse crowd, Fleming went on to make an assured 60 off just 61 balls with three sixes and seven fours.
However, his innings ended farcically when he ran himself out going for a non-existent single after Taylor flicked Jimmy Kamande backward of square leg to Collins Obuya.
Taylor had made 72 when he received treatment for a right hamstring strain with New Zealand 177 for two in the 32nd over.
Vincent then returned to the field to act as a runner for Taylor, who has previously suffered cramping problems while batting.
However, Taylor was still able to sweep off-spinner Tikolo for six.
But two balls later he was out when he chipped a gentle return catch to Tikolo, having faced 107 balls with that one six and eight fours.
Kenya's spinners suffered in a surge that saw 100 runs scored off the last 10 overs.
Medium-pacer Lameck Onyango snared Styris, caught at long-on by Mishra, after a partnership of 82 with McMillan.
Then 274 for five became 280 for six when all-rounder Jacob Oram was bowled, hitting across the line, to give Odoyo his 100th wicket at this level.
Before play began a minute's silence was observed by players, officials and spectators in memory of Bob Woolmer, the Pakistan coach, who died on Sunday.
New Zealand 331 for 7 in 50 overs (Ross Taylor 85, McMillan 71, Fleming 60, Styris 63; Odoyo 2 for 55, Ongondo 2 for 64, Tikolo 1 for 45) Vs Kenya (yet to bat).