Devers, a third baseman, will assume the roster spot made available after right-hander Kyle Martin was optioned to Pawtucket following Sunday's 3-2 setback to the Los Angeles Angels.
Boston also transferred left-hander Robbie Ross Jr. to the 60-day disabled list on Monday.
Devers will be available off the bench Monday and likely start Tuesday's contest, according to reports. The 20-year-old batted .311 with 20 homers and 60 RBIs in 86 games this season between Double-A Portland and Pawtucket, including a 14-for-35 stretch with two homers in nine contests with the PawSox.
Boston has received limited contributions from its third basemen this season, most notably Pablo Sandoval, a major free-agent signing two years ago who was released last week.
"(Devers) handled the challenges we've given him and we feel he's ready for the next step," Red Sox general manager Dave Dombrowski said on Sunday. "We weren't thinking about the timing of this, it's just obvious that we have the need. There were no better options for us. We just want him to be himself."
Devers was named the organization's 2016 Minor League Defensive Player of the Year.
Ross was placed on the 10-day disabled list on June 1 with left elbow inflammation. The 28-year-old owned a 7.00 ERA in eight games with Boston this season and has recorded a 16-12 mark with six saves and a 3.92 ERA in 266 career contests (12 starts) with the Texas Rangers and Red Sox.