Miller has a team option that would guarantee $7 million of his $18-million salary next year. Denver has until March 16 to exercise the option.
Broncos general manager George Paton said the organization wants Miller back next season, according to Kevin Patra of NFL.com.
"We're still working through it with Von and his agent," added Paton, according to Nick Kosmider of The Athletic.
The 10-year NFL veteran is a candidate to restructure his deal as the Broncos attempt to gain more salary-cap flexibility ahead of the new league year.
Miller missed the entire 2020 campaign after suffering a dislodged ankle tendon in training camp. The eight-time Pro Bowler did, however, participate in team activities during the final weeks of the season.
The 31-year-old recorded eight sacks in 2019, his lowest mark since 2013 when he played in just nine contests.
Miller is the franchise's all-time sacks leader with 106.
Paton also addressed Miller's legal situation. The linebacker is under criminal investigation for reported interactions with his former girlfriend. The Parker Police Department turned over the investigation to the Douglas County District Attorney's office for review last month.
"Obviously, it's a serious situation, but we're going to let it play out," Paton said.