In an interview with USA Today, the 'Only a Dream in Rio' singer expressed how proud he is of several of his past records.
"Hourglass [from 1997] and [1975's] Gorilla are my two favourites, the ones I'm best pleased with," Taylor revealed, adding: "I would say that of October Road [from 2002] as well, except that I think it has a couple of songs too many."
Taylor also hinted that he has "a batch [of new songs] about to go into the oven".
He added of songwriting: "You need to have the time be so empty that it's tedious. You need a week of boredom before things start to flow."
Taylor's last studio album Covers was released in 2008.
It was recently announced that Taylor will perform at Julianne Moore and Nathan Lane's Hamptons fundraiser for US President Barack Obama.
> James Taylor: 'Unhappiness breeds creativity'
Watch James Taylor perform 'Only a Dream in Rio' below: