Syracuse forward C.J. Fair will play for the Orange as a senior in 2013-14.
Coach Jim Boeheim called the decision "great news" for the program.
"I believe he's just going to keep getting better and better as a basketball player and earning his degree is important," Boeheim said in a statement.
Fair, the best offensive weapon the team had in a 22-point performance in the Final Four loss to Michigan, put up 14.5 points and 6.9 rebounds per game last season.
"After talking it over with my family and my coaches, I decided another year at Syracuse was best for me," Fair said in a statement. "I'm excited about working hard with my teammates to put together another great season and graduating has also been a goal of mine."
The Orange lost point guard Michael Carter-Williams and James Southerland to the draft, and Brandon Triche exhausted his eligibility.