Suarez's main rivals for the award are Gareth Bale, who has also been nominated in the Young Player category, and Robin van Persie, who won it last season before leaving Arsenal for Manchester United.
In a shortlist that includes no defenders or goalkeepers, and no representation from the champions Manchester City, the biggest surprise is the absence of the Swansea forward Michu, whom many believe to be the signing of the season. Instead, the Chelsea duo of Juan Mata and Eden Hazard are included, in addition to United's Michael Carrick who, at 31, gets his first nomination. The six players are shortlisted on the basis of votes cast by their fellow professionals.
There is no doubt Suárez has been one of the best players in the Premier League this year. However, his reputation has been damaged by the eight-match ban he received for racially abusing Patrice Evra at Anfield last season.
Given his handball also denied Ghana an appearance in the 2010 World Cup semi-finals and the periodic allegations of diving, some would argue he hardly deserves to be acknowledged by his peers.
But Taylor, while accepting Suárez is a controversial figure, feels the Uruguayan's on-pitch performances, including 29 goals for Liverpool this term, make him worthy of inclusion.
"Sometimes controversy travels with players," said Taylor. "Sometimes it is in their very nature. Sometimes it is that very intensity that causes a problem also makes sure they win.
"Luis Suarez is helping to restore Liverpool. It is a credit to them that he seems comfortable there and no one could deny he is one of the finest players in the world."
Yet if Suarez wins the award when it is announced on 28 April, it will put the PFA in an uncomfortable position given his background.
"It is very difficult at times," said Taylor. "Players are expected to be top role models and set the finest example. That goes with the trade these days.
"I don't underestimate the need for them to do all they can to be seen as a good example. But they are also human beings. It is not always possible to put old heads on relatively young shoulders.
"This is a footballing award and Suarez's footballing ability shines through. It would be naive to think controversy won't continue to travel with him. But I think his football has maintained his place."
Suarez's manager at Liverpool, Brendan Rodgers, said: "It is great for Luis and a mark of the team. I'm sure he will be the first to recognise the great support he has from the players around him. He has been absolutely outstanding this season. You can only judge these things on football and I am sure he is one of the favourites to win it."
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