In 1699 Talbot succeeded John Hough as bishop of Oxford (consecrated 24 September), retaining his deanery "in commendam"; he had been made D.D. of Oxford on 8 August. In the debate in the House of Lords following the trial (1710) of Henry Sacheverell, he was one of four bishops who spoke for his condemnation. His charge of 1712 maintained the validity of lay baptism against Roger Laurence. In 1718 he was made Dean of the Chapel Royal. On 23 April 1715 he was translated to the see of Salisbury, and resigned the deanery of Worcester.