Seastrunk topped 1,000 rushing yards for the second straight season, running for 1,177 and 11 touchdowns this year.
He ran for 117 yards in Baylor's loss to UCF in the Tostitos Fiesta Bowl on New Year's Day.
Seastrunk, 22, is four years removed from high school but played only two years in college.
He sat out his freshman season at Oregon and then had to sit out another season after transferring to Baylor.
Seastrunk was at the center of a recruiting controversy for which the NCAA eventually punished Oregon with three years of probation. He never played for the Ducks.
ESPN's Joe Schad contributed to this report.