Nicki Jhabvala of the Denver Post reported the visit will take place on Tuesday.
Charles, 30, has played in just eight games over the last two seasons due to injuries derailing him later in his career. He accumulated just 54 yards from scrimmage and one touchdown in just three games last season for the Kansas City Chiefs.
Before injuries became the major storyline of Charles' career, he was one of the most explosive and productive playmakers in the NFL. He rushed for over 1,000 yards in five of six seasons between 2009-14, while also providing the Chiefs with another playmaker in the passing game.
His 2013 season was particularly impressive, as Charles rushed for 1,287 yards and 12 touchdowns and added 70 receptions for 693 yards and another seven touchdowns.
While Charles is no longer that sort of game-changing talent, he could provide the Broncos with a nice change-of-pace back to pair with C.J. Anderson. On the other hand, the Broncos already have Devontae Booker on the roster as the likely third-down back and drafted Coastal Carolina's speedy running back De'Angelo Henderson on Sunday.
Hosting Charles might be an indication the Broncos weren't blown away by Booker's rookie season (877 yards from scrimmage, five touchdowns), especially after he was forced into starting duty after Anderson was lost for the season due to a meniscus tear in October.
If Charles can remain healthy, he could potentially be a dynamic addition at a reasonable price. But given his inability to stay on the field over the past two years, his signing would also come with clear risk.