Stephen agreed to terms on a one-year contract with the Broncos, Aric DiLalla of the team's official site reports.
Stephen was released by the Vikings on Tuesday.
Stephen started at nose tackles and had two total tackles in Sunday's loss to Green Bay. He also had two QB hurries, according to Pro Football Focus.
Stephen recorded 21 tackles, a sack and three pass breakups over 15 regular-season games.
Stephen (knee) said Tuesday that he expects to play in Saturday's playoff game against the 49ers, Andrew Krammer of the Minneapolis Star Tribune reports.
Stephen (coach's decision) is inactive for Sunday's divisional contest against the Bears.
Stephen recorded his first sack of 2019 during Sunday's loss to the Bears.
Stephen (personal) was removed from the non-football injury list Friday.
Stephen was placed on the Active/Non-Football Injury (NFI) list with an undisclosed issue. "Shamar ... it's basically nothing. Shamar is not going to be out long," said head coach Mike Zimmer.
Stephen plans to sign a three-year contract with Minnesota, Dan Graziano of ESPN.com reports.