Latimer, who shot up draft boards after his pro day in April, was drafted by the Broncos in the second round on Friday night. He was the 56th overall pick.
Latimer was one of 30 players invited to Radio City Music Hall, but he was not drafted in the first round on Thursday night.
Latimer joins a high-powered offense in Denver, engineered by quarterback Peyton Manning, who got the Broncos to the Super Bowl last season. The Broncos lost wide receiver Eric Decker during the offseason, so Latimer should have a good chance to play as a rookie next season.
Latimer, 6-foot-3 and 215 pounds, had 72 catches for 1,096 yards and nine touchdowns for the Hoosiers last season.