Davison, who is projected to be the No. 38 pick in ESPN's latest mock draft, announced his decision on Instagram on Wednesday. He didn't say if he would be hiring an agent, but Davison told ESPN's Jonathan Givony he was "done with college."
Davison was the No. 14 prospect in the Class of 2021 and ranked as the No. 2 point guard in the country, according to ESPN.
"I'm grateful to every single coach and teammate who helped me get here, and I'm ready to show the world what I can do at the next level," Davison wrote on Instagram.
He played in all 33 games, starting six. Davison averaged 8.5 points, 4.8 rebounds and a team-high 4.3 assists per game.
Leading scorer Jaden Shackelford has already declared for the draft and said he would hire an agent.
Players can still withdraw from the draft until June 1 if they hire an agent who is NCAA certified.