The Broncos also signed guard Ryan Miller to their practice squad. Palmer and Miller were among the final cuts last weekend.
Palmer is a second-year pro who was on Denver's practice squad at the end of last season. He played in all four preseason games and caught one pass for 7 yards.
Miller also is in his second NFL season. The Colorado native played eight games as a rookie for Cleveland in 2012.
AP NFL website: www.pro32.ap.org and www.twitter.com/AP-NFL