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The Broncos, who pick 11th in the first round, have needs at linebacker and elsewhere, and they'll now likely address receiver in the draft, too. Marshall's departure leaves Jabar Gaffney, who had two touchdown catches last season, as Denver's top receiver.
McDaniels suggested the trade gave both Marshall and the Broncos a fresh start.
"I'm pleased with how the whole thing went down. I'm happy and excited for Brandon to have an opportunity to do something that he's wanted to do," McDaniels said. "And I'm also excited about the opportunities that we're going to be presented here in the coming week with the draft and continuing to build our team and our roster the way that we want to do it."
The Dolphins declined to comment, but several players tweeted their approval.
"Exciting about the direction we are taking can only get better!!!" tweeted cornerback Vontae Davis, who will be covering Marshall in practice.
The deal also earned three exclamation marks from cornerback Sean Smith.
"We got B Marsh, thass my dude!!!" Smith tweeted.
Marshall is the biggest trade acquisition by the Dolphins since running back Ricky Williams came to Miami in 2002 for four draft picks, including two first-rounders.
For the Broncos, the blockbuster trade was the second in as many offseasons under McDaniels. Denver sent quarterback Jay Cutler to Chicago last April for Kyle Orton and draft picks.
[Associated Press;
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