"Agreed to terms on a 2-yr deal with Wes Welker," Broncos Executive Vice President John Elway posted on his Twitter account. "Excited to have Wes join the Broncos. His production & toughness will be a great asset!"
Welker is a five-time Pro Bowl selection, earning the honor each of the last five seasons. He was named All-Pro in 2009 and 2011. He led the NFL in receptions three times, most recently in 2011.
Welker caught 118 passes for 1,384 yards and six touchdowns last season.
Welker, who will be 32 before next season, caught 672 passes for 7,459 yards and 37 touchdowns while with the Patriots.
He was with the Miami Dolphins for three seasons before that, although his first NFL game was with San Diego in 2004, before he was released and picked up by the Dolphins. He was traded to New England prior to the 2007 season.