The 6-foot-6 forward made the announcement Monday night on his Twitter account, and the school confirmed the decision in a statement.
Jenkins' buzzer-beating 3-pointer dramatically lifted Villanova past North Carolina in the NCAA Tournament championship game and gave the Wildcats their second national title.
Jenkins finished second on Villanova in scoring (13.6 points per game) and third in rebounding (3.9). He led the Wildcats in 3-pointers made this past season.
He explained at the Villanova victory parade in April how to coach kids to make shots like his clutch game winner.
"Just tell them one, two, step and let it fly!" Jenkins told the roaring crowd at Philadelphia City Hall.