Euwell was held out of the first five games of the season while the NCAA and UNC worked to determine his eligibility status.
Meanwhile, Brian Gupton, a junior safety, will miss the remainder of the season, but will have one season of athletic eligibility remaining.
And Kendric Burney, who was given a 6-game suspension for violations of the NCAA agent benefit and preferential treatment rules, may or may not play against Miami in Carolina's seventh game.
"We were expecting Kendric's issue to be resolved prior to the completion of his 6-game suspension," said Dick Baddour, UNC Director of Athletics. "This week we learned that would not be the case."