It is edible, but the question is how good will it taste. I've eaten our one venison that was three years old with no problem, but have seen others have to throw it away after less than a year.
There are several factors that affect the quality and length of time venison will last in the freezer.
1) Condition of the venison when it was frozen. [If it was left hanging to long, was gut shot, wasn't properly field dressed, etc.]
2) How it was wrapped. [Was it double wrapped?}
3) Is it boneless or bone-in? [Boneless seems to hold up better.]
4) What's the temperature of the freezer? [Below zero is best.]
Dave