In an instant classic at the Madison Square Garden in New York, Taylor won on points over Serrano.
The Irishwoman retained her title in a fight that was action, heart and excellence.
Two of the three judges saw it for Taylor in the fight that lived up to every prediction and hope.
Taylor got the verdict on two cards, by 97-93 and 96-93 margins, with one judge scoring it 96-94 to Serrano.
It was the first time two females had fought at the famous venue and after the first fight smashed every expectation, an even bigger sequel is surely in the works.
Absolutely. Taylor said after the result that they have to do this again.
For 10 rounds, it was an absolute war. I am grateful to be in this position and able to sell out the Madison Square Garden. Look what we did.
I said before that when you think of Madison Square Garden, you think of Muhammad Ali, but now everyone will be thinking of the case of Taylor and Serrano. I knew I would have to dig deep to get to the trenches.
I have both the skill and the heart. I knew I would pull through.
She is a phenomenal fighter. A great person. It was a pleasure to fight her again.
On a seminal night for women's boxing, two of their greatest servants delivered. Eddie Hearn might talk about a big game, but he could never have imagined that Madison Square Garden would sell out with Taylor.
The build-up has been dominated by the significance of the event, but the performance of Taylor and Serrano showed the true impact of women's boxing. It has been the talent of the fighters and Taylor's resolve that has dragged women's boxing out of the shadows and into the spotlight.
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Serrano would move in close and fire off big shots, with Taylor happy to let the challenger advance on her, falling back on her renowned ability to respond in volume in a blink of an eye.
The strategy from Taylor appeared to be working as she landed some clean shots, but then came the fifth round.
Serrano cornered Taylor against the ropes and fired off crunching shots, connecting with the head of Taylor and drawing blood. With the referee watching closely, Taylor pushed forward in reply and brought the fight away from the corner.
Taylor looked one punch away from hitting the deck for the second time in her stellar career. The first time was when Taylor was lucky to retain her titles. After three years on the canvas, Taylor did brilliantly to survive the round.
In the fifth round, Serrano was able to hurt Taylor with heavy hooks, as she was able to plant her feet when she needed to. The Irishwoman withstood the onslaught again and appeared to regain her footing in the seventh.
Taylor could control the fight in the middle of the ring if she kept moving and it seemed like Serrano took her foot off the gas. Serrano came out swinging in eighth after her slow round.
The defending champion pivoted away from danger after Serrano backed her into a corner post.
Taylor was yet to hurt Serrano but that was about to change. Taylor was able to take control in the ninth round, but it was short-lived. The final round was very exciting. Serrano was swinging from the hips while Taylor was swinging with pain.
Serrano had blood on his face. punches flew from every direction because the Puerto Rican refused to step back. The two women did a great job in the final 10 seconds.
Taylor Serrano was cracked by a powerful shot after he hurt himself. The women were swinging when the bell rang.
The teams stood in the center of the ring waiting to hear the results, and the tension was almost unbearable. Three years ago, Taylor was lucky to keep her titles, but it was a nervous wait again.
It was a very close fight that Taylor won in the end.
The debate over who won the fight will likely continue until the two champion step in the ring again.
This is the first time that boxing has seen two female headliners. The noise inside the building was deafening.
The Puerto Rican fans gave a powerful rendition of their anthem before the Irish belted out theirs.
Even if there was one in the ring by the end of the fight, it was hard to pick a winner. The support was loud and constant. Serrano's entrance was filled with emotion for a fighter that has spent most of his career in the cold.
The seven-time champion grinned from ear to ear as she made her walk.
Taylor took in every moment of her entrance. Her promoter Eddie Hearn, trainer Ross Enamait and her right hand man Brian Peters followed behind her. Enamait, who has coached Taylor throughout her pro career, is often an under appreciated man, but he beams as his fighter takes one last look around.
The introduction of both women by David Diamante was met with rapturous applause. The arena was filled with 19,187 people and every punch was cheered. The noise never dropped below deafening levels.
The noise was as loud as the action in the ring. Who would like to watch women's boxing? It seems everyone.
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