Anderson caught 81 passes for 886 yards with three touchdowns from 2006-10, but was released after the lockout. He hooked on with Denver, but was among the Broncos' final roster cuts.
The 28-year-old Colorado State product was selected by the Texans in the seventh round of the 2006 draft. He had 11 catches for 117 yards last season.
Anderson's signing gives the Texans some depth at wide receiver if Kevin Walter is sidelined for an extended period of time because of a collarbone injury.
The Texans opened a roster spot by releasing defensive end Tim Bulman, who was inactive for the opener against Indianapolis. Bulman played in 15 games for the Texans during the 2009 season, but spent the 2010 campaign on injured reserve because of a shoulder injury.