The 6-foot-9 forward had flirted with entering the draft after each of his first two seasons before announcing Thursday that he would make the jump this time around.
In a statement from the school, McAdoo said he felt he was ready to play in the NBA and "excited about that challenge." The history major also said he planned to complete coursework to earn his degree.
The Norfolk, Va., native averaged 14.2 points and 6.8 rebounds for the Tar Heels, helping them go on a 12-game winning streak in Atlantic Coast Conference play before falling to Iowa State in the third round of the NCAA tournament.
McAdoo was a second-team all-ACC pick as a sophomore and junior.