The Denver Broncos are heading to Super Bowl XLVIII after dominating the New England Patriots to win the AFC Championship game 26-16.

Peyton Manning threw for two touchdowns and more than 400 yards to beat Tom Brady in the latest instalment of their great quarterbacking rivalry, but it was Denver's clock management which was at the heart of the Broncos' victory.

Denver's offense dominated possession and New England only finally managed to break the stranglehold in the fourth quarter but it was too little too late. Manning led the Broncos' on two separate touchdown drives lasting more than seven minutes.

A field goal early in the fourth quarter gave Denver a 23-3 lead but Brady then led New England on two touchdown drives to raise anxiety levels in Colorado. First Brady threw a seven-yard touchdown pass to Julian Edelman and then with three minutes left Brady ran for his fourth career playoff rushing TD. But a 2-point attempt conversion failed and the Patriots were deflated.

The Patriots managed only 64 yards rushing and most of Brady's 277 yards came after New England had fallen behind by 20 points.

The Broncos will now face the San Francisco 49ers or the Seattle Seahawks in New Jersey's MetLife Stadium on February 2. 

On a perfect day in the Mile High city Manning proved he could carry his record-breaking regular season form into the playoffs, throwing for 400 yards and touchdowns to Jacob Tamme and Demaryius Thomas. 

The Broncos went ahead early with a 27-yard field goal by Matt Prater and never relinquished the lead.

The victory allowed Manning to level his playoff record against Brady at 2-2 but the New England quarterback continues to hold a 10-5 edge in their all-time head to head meetings. 

The Broncos will be appearing in their first Super Bowl for 15 years. It will be their seventh Super Bowl, making them the fourth franchise to play in at least seven NFL championship games, alongside the Steelers, Cowboys and Patriots.

Two years after Eli Manning won a Super Bowl on Peyton's home field in Indianapolis, the older brother will have a chance to win a Super Bowl on his younger brother's home field in New Jersey.

"The heart feels great," said Denver coach John Fox, who missed a month of the regular season after undergoing heart surgery in November. "He (Manning) has been remarkable. To have the kind of season, not just today, but all season long that he had to me is pretty remarkable. And there is still one more game." 

Manning added: "It's an exciting feeling (to get back to the Super Bowl). You take a moment to realize we have done something special here and certainly want to win one more. You have to take time to savor the moment. Being in my 16th season and going to my third Super Bowl I know how hard it is to get there. It is extremely difficult."