Tampa police spokeswoman Andrea Davis said in a news release that Stevens was pulled over in his Ford pickup truck at 7:05 p.m. Saturday for loud music.
The officer said he smelled marijuana inside the vehicle and found 38 grams, or 1 1/3 ounce, of marijuana.
The 30-year-old player was taken to jail and charged with possession of marijuana with intent to sell and possession of drug paraphernalia.
Buccaneers spokesman Jonathan Grella said the team was "deeply troubled" by the arrest.
"We take such matters quite seriously," he said. "Obviously Jerramy Stevens will not be playing today and we will treat this matter with the seriousness it deserves but in the meantime are focused on playing the Rams."
Stevens was previously convicted of drunken driving in 2007 and pleaded guilty to reckless driving in 2003.
Buccaneers spokesman Jonathan Grella said the team is troubled by the arrest and that Stevens will not play in Sunday's game.