The native of Killeen, Texas, said he will transfer to another school. He is the 13th scholarship player from the 2015 recruiting class to depart. Starting quarterback Demry Croft announced his decision to leave the program earlier this week.
Waters had seven tackles in 10 games for the Gophers in 2017.
He thanked former coach Jerry Kill and linebackers coach Mike Sherels and expressed his appreciation for current coach P.J. Fleck and his assistants.