Tellurium (Te) exhibits many intriguing properties including thermoelectricity, photoelectricity, piezoelectricity, and photoconductivity, and is widely used in detectors, sensors, transistors, and energy devices. Herein, ultrathin two-dimensional (2D) Te nanosheets were fabricated using a facile and cost-effective liquid-phase exfoliation method. Mixing the as-prepared 2D Te nanosheets with polyvinylpyrrolidone (PVP) provided a uniform 2D Te/PVP membrane. The 2D Te/PVP membrane exhibited excellent mechanical properties, thermal properties, and stability. The nonlinear optical properties of the membrane were characterized over the spectral range of 800 to 1550 nm using open-aperture Z-scan technology. A large nonlinear absorption coefficient of about 10-1 cm GW-1 over the whole tested wavelength range demonstrated the efficient broadband saturable absorptivity of the 2D Te/PVP membrane. Using the 2D Te/PVP membrane as a saturable absorber (SA), a highly stable femtosecond laser with a pulse duration of 829 fs in the communication band was obtained. This work highlights the promise of 2D Te/PVP membranes in ultrafast photonics and Te as a new 2D material for use in photonic devices such as all-optical modulators, switches, and thresholds.