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Lockett will not play Wednesday in the No. 8 seed Wolfpack's opening round ACC Tournament game against No. 9 seed Clemson, however, ABC11 has learned.
"The campus review of Eric Lockett's case is complete and no disciplinary actions will be taken," N.C. State said.
Lockett had been suspended since his arrest Feb. 14 on a charge of assault on a female.
The charges were dismissed March 1 but the graduate transfer remained suspended from the team pending a university review.
Lockett's Raleigh-based attorney, Lee Turner, has said video evidence from the incident at Lockett's apartment showed he was not an aggressor.
The woman he's accused of hitting, 21-year-old Saskia Guilbaud, told ABC11 she never wanted charges on Lockett and that "It was between me and him."
The 6-5 Lockett, of Warner Robins, Georgia, graduated from Florida International before transferring to the Wolfpack basketball team in his last year of eligibility. He has averaged just under 17 minutes of playing time, scoring 5 points per game this season.
Lockett missed six games during his suspension from the team.