Taylor apologised last week after a message he posted to four of his team-mates which included an attached picture which could have caused offense.
Anti-racism campaigners condemned Taylor's actions and he could have faced further action, but he has instead been warned over his future use of social media.
An FA statement read: "The FA has issued a reminder to Mr Steven Taylor of Newcastle United FC in respect of the public nature of social networking websites, and the risk of postings being taken out of context, following a post he made to Twitter of four pictures on 15 November.
"Steven Taylor has confirmed to The FA that the four pictures he posted on his Twitter account were sent to him by Massadio Haidara.
"One picture was of Mr Haidara himself, one was of Vurnon Anita, and the other two were selected by Mr Haidara as "lookalikes" of Papiss Cisse and Moussa Sissoko. These facts have also been confirmed by Mr Haidara.
"Mr Taylor posted these pictures on his Twitter account as a response to those team-mates laughing at his efforts to learn French.
"This followed a picture posted earlier by Mr Haidara, apparently of Mr Taylor learning French.
"In these circumstances, The FA will take no further disciplinary action in respect of this matter."