He and Ernest Henry Starling discovered the peptide hormone secretin and peristalsis of the intestines. The Bayliss Effect is named after him.
He was also involved in the Brown Dog affair, successfully suing Stephen Coleridge for libel over accusations he made about Bayliss's vivisection work.
William Bayliss's wife was Gertrude Starling, sister of Ernest Starling.
He was knighted for his contribution to medicine in 1922.
The Bayliss and Starling Society was founded in 1979 as a forum for scientists with research interests in central and autonomic peptide function.