Sherwood previously managed Yeovil in the Women’s Super League, leading them to promotion from the English second tier.
He has also had spells working for the Football Association of Wales (FAW), Cardiff City Ladies and Cardiff City Women.
His final game in charge was Sunday’s 2-1 victory at Cardiff Met which ended a six-game winless streak.
Swansea are seven points clear of Barry Town United at the top of the Plate Conference which also includes Aberystwyth Town.
Interim boss Taylor also joined the Swans last summer, having spent 11 years as a player and coach with Cardiff Met where she won six league titles as well as three Welsh Cups and three Adran Trophy successes.
The 31-year-old is also a part of the Wales Women Under-19s’ coaching team, a role she will continue alongside her duties with Swansea.
