"I'm excited for the next phase of my career and to enter the NFL Draft," Carey said. "I want to thank God, my family, Coach Rodriguez, Coach Magee and all of my coaches for everything they've done for me.
"My time playing football for Arizona will always be very special to me and I want to thank the fans and the Tucson community for supporting me throughout my career. The future of Arizona football is bright. Bear Down."
Carey is considered to be the top back in the draft and received a first round grade from numerous teams.
He ends his career at Arizona as one of the top players in school history.
Last season, he rushed 349 times for 1,885 yards and 19 touchdowns. That was only outdone by his 2012 season in which he ran 303 times for 1,929 yards and 23 touchdowns.
Carey was named the Pac-12 Offensive Player of the Year and was the only unanimous player voted first-team All-Pac-12. He is a two-time first-team all-conference honoree and is the first Wildcat to be named the conference's offensive player of the year.
A finalist for the Doak Walker Award, Carey is Arizona's all-time leading rusher and career touchdowns leader. He has 4,070 career rushing yards and 50 total touchdowns and owns 21 school records in single-game, season or career categories.