Elijah Wilkinson is expected to get the bulk of the work at right tackle after James' decision, but in Dotson the Broncos get a tackle with extensive starting experience.
The Broncos waived defensive lineman Jonathan Harris on Wednesday (with a non-football injury designation) in a corresponding move.
Dotson, 34, was the longest-tenured player for the Tampa Bay Buccaneers entering the offseason, having started 106 of the 130 games in which he's appeared since joining the team as an undrafted free agent in 2009.
The team's Ed Block Courage Award recipient in 2019, Dotson also became just the seventh player to have spent 11 or more seasons with the Buccaneers -- joining Ring of Honor members Mike Alstott, Ronde Barber, Derrick Brooks, Paul Gruber and John Lynch, as well as Dave Moore.
It's been quite the journey for Dotson, who went from converted college basketball player at Southern Miss to signing with the Bucs. After being promoted from the practice squad, he found himself as the starting right tackle in 2012.
He played for five different head coaches in Tampa Bay. Dotson's best season came in 2017, when he allowed just 14 total pressures, second-fewest in the NFL among offensive tackles with 400 or more snaps, according to Pro Football Focus.
ESPN's Jenna Laine contributed to this report.