The school released a statement that the 6-foot-8 freshman from Canada will make an announcement Monday at 3 p.m. ET.
Wiggins averaged 17.1 points and 5.9 rebounds this past season and is expected to be taken somewhere in the top three in June's NBA draft. Wiggins was the Big 12 freshman of the year and a first-team all-conference selection.
In a November interview for ESPN The Magazine's college basketball preview issue, Wiggins, when asked what he's enjoyed most since he arrived at Kansas, indicated he would spend only one season in college.
"I would say just being able to enjoy my last year of school," Wiggins said.
Fellow Kansas freshman Wayne Selden Jr. has already announced he will return to school. Freshman center Joel Embiid, who also has a chance to be the top overall pick, has yet to announce his plans.
The Associated Press contributed to this report.
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