Their father, Dave Wear, broke the news Wednesday in an interview with Frank Burilson of the Long Beach Press-Telegram.
UNC confirmed the news Thursday afternoon in a press release.
According to Dave Wear, he discussed his sons' decisions with UNC coach Roy Williams and asked that Davis and Travis be released from their scholarship agreements with UNC as early as today.
"Their father called me last night and asked for their release, which came as a complete surprise," Williams said. "I met with both kids in mid-April for our typical end-of-year meetings and together we worked on their development plans for next season. Both David and Travis seemed to be excited about their futures at North Carolina."
Wear did not reveal why the twins were leaving, but said they didn't want to return to North Carolina.
"We are extremely disappointed that David and Travis are leaving the program," coach Williams said. "I love both kids and they would have been very important parts of our team next season. It is a significant blow to our team as we had four post players and now we are down to two. They are quality kids and will be quality players."
Williams said he and his coaching staff will look at the team's options for replacing the Wears brothers, who he calls "quality players."
The McDonald's All-Americans are from Huntington Beach, Calif. were among the country's most heavily recruited prospects in the class of 2009. The pair committed to UNC in the spring of their junior years.
During the last season, Travis averaged 3.5 points and 2.2 rebounds a game. David, who missed the last five games of the season due to a hip injury, averaged 2.9 points and 1.7 rebounds per game.