"It just makes it that much easier for me to come back, for me to make my decision," Hart, a junior, told reporters. "Having Chad back made me want to come back. We came in [to Michigan] together and we want to leave together.
"We still have things we want to accomplish and it's a great feeling to know he's going to be back."
Hart finished fifth in this year's Heisman Trophy balloting following a season which saw him rush for 1,515 yards and 14 touchdowns.
Michigan (11-1) plays Southern California (10-2) in the Rose Bowl (ABC, 5 p.m. ET) on Jan. 1.