Stevens was pulled over in his Ford pickup truck on Saturday at 7:05 p.m. for loud music, Tampa police spokeswoman Andrea Davis said in a news release. The officer said he smelled marijuana inside the vehicle and found 38 grams, or 1 1/3 ounces, of marijuana.
The 30-year-old player was taken to jail and charged with possession of marijuana with intent to sell and possession of drug paraphernalia.
On Sunday, Buccaneers spokesman Jonathan Grella said the team was "deeply troubled" by the arrest. Stevens did not play in the Bucs' game against St. Louis.
"We take such matters quite seriously," he said. "Obviously Jerramy Stevens will not be playing today and we will treat this matter with the seriousness it deserves."
The Bucs beat the Rams 18-17. Afterward, Bucs coach Raheem Morris declined to comment on Stevens.
Stevens was previously convicted of drunken driving in 2007 and pleaded guilty to reckless driving in 2003.
Stevens signed with the Buccaneers in 2007 after spending the first five years of his career with the Seahawks. The former first-round draft pick had 15 receptions for 130 yards and one touchdown last season and has 202 career catches for 2,217 yards and 22 TDs.
The Buccaneers promoted tight end Ryan Purvis from their practice squad after releasing Stevens.
Information from The Associated Press was used in this report.