"I want to accomplish the goals that I set before I got here, and there is still a lot more to do," Jones said. "I want to make sure I've exhausted every effort in that area. And I want to be a senior. I enjoy being at OU and with my teammates and look forward to graduating with the guys that were in my class when I got here."
ESPN draft analysts Mel Kiper Jr. and Todd McShay both ranked Jones as their No. 3 quarterback in the upcoming NFL draft behind Andrew Luck and Robert Griffin III. Jones is 15th on Kiper's Big Board, and ranked 17th overall by McShay.
Last week, Jones admitted he had "gone back and forth so many times" about his decision that he would wait until the Jan. 15 deadline before revealing his intentions.
But the allure of ending his college career on a better note and taking a final run at the national championship made Jones' decision easier than he expected.
"We hope to have another opportunity to make a title run," he said. "Most of the offensive line returns and we have several receivers and backs return, too. We've also got a lot of guys back on defense, so we're confident that we can be a strong team."
By coming back, Jones has a chance to become the winningest quarterback in OU history and shatter all school career passing records. His return means the Sooners will have eight starters back on an offense that struggled at the end of the season without Ryan Broyles, who tore his ACL in early November, but still finished fifth nationally in total yards.
"We know the positive influence Landry has on and off the field with our team," coach Bob Stoops said. "We're excited that he's coming back to build on what has already been an outstanding career. We expect another great year from him, and like the fact that he's determined to be even better."
Earlier Thursday, Oklahoma junior defensive end Ronnell Lewis announced that he will skip his senior season and enter the draft.
Jay Norvell, the Sooners' co-offensive coordinator and receivers coach, met Wednesday with Wisconsin but will stay at Oklahoma, a source told ESPN college football reporter Joe Schad.
Jake Trotter covers Oklahoma for ESPN's SoonerNation.