The Devils play the Colorado Avalanche on Thursday night.
The 36-year-old Brodeur was informed of the team's decision on Wednesday after getting the majority of work for the third straight practice.
Brodeur was hurt in a game against Atlanta on Nov. 1, and had surgery days later to repair a torn biceps muscle in his left elbow.
Brodeur has won four Vezina trophies as the NHL's top goaltender, including last year. He is on the verge of surpassing Patrick Roy's NHL record for career wins.
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