James' decision was first reported by The Oregonian on Dec. 15.
James, a 2010 Heisman Trophy finalist and Doak Walker Award winner, will finish his career as the best player in Oregon history and one of the best running backs in Pac-12 history. His 5,082 career yards rushing and 53 TDs rank second all-time in the conference. He was the first running back to eclipse 1,500 yards rushing three consecutive years.
His obvious replacement would be talented junior backup Kenjon Barner, but Barner also is considering entering the NFL draft.
The deadline to declare is Jan. 15.
Here is the list of Pac-12 players who have opted to enter the NFL draft a year early.
Vontaze Burfict, LB, ASU
David DeCastro, OG, Stanford
Matt Kalil, LT, USC
Andrew Luck, QB, Stanford
Jonathan Martin, OT, Stanford
Nick Perry, DE, USC
Chris Polk, RB, Washington
LaMichael James, RB, Oregon
Arizona State QB Brock Osweiler is expected to shortly announce that he also will enter the draft.