An MRI confirmed the tear after Colvin left practice with his right knee heavily wrapped.
Colvin was a three-year starter at Oklahoma and a first-team All-Big 12 selection this past season.
According to ESPN's Mel Kiper Jr., Colvin was the fourth-best cornerback prospect in the upcoming NFL draft.
Colvin took to Twitter on Tuesday night, thanking his supporters and vowing to return to full strength in an extensive written message.
— Aaron ©olvin (@AColvin14) January 22, 2014