Baldwin entered college as a top-five recruit playing for the Panthers under his father, Pat Baldwin Sr., but injuries limited him to 11 games last season, when he averaged 12.1 points and 5.8 rebounds per game.
The Panthers fired Baldwin Sr. as coach in March following a 10-22 season.
"As a kid, I always dreamt of taking the court alongside my father," Baldwin Jr. wrote in his announcement. "While this season didn't end how we expected it to, I'm so happy that I got to play the game that I love under the man who has always been there for me and taught me so much."
Baldwin has slipped from being a potential lottery pick entering his freshman season to the final pick of the first round in ESPN's most recent mock draft.