The deal is reportedly worth $57 million with $26 million guaranteed.
Talib's deal should make for an interesting initial reception in the Broncos locker room after Bill Belichick infamously blamed Wes Welker for issuing a deliberate "take out" hit on Talib during the AFC Championship game.
It also opens the door for the Patriots to make a serious run at Buccaneers cornerback Darrelle Revis, should Tampa Bay decide to release him in the coming days.