"Kevin and I will sit down in mid-June to determine the next step," Livengood said.
Olson held a news conference April 1 to announce his return to head coaching duties. O'Neill's reassignment opens a vacancy on the men's basketball staff.
During his service as interim head coach, O'Neill guided Arizona to a 19-15 record and a berth in the NCAA Men's Basketball Championships. It was the school's 24th consecutive tournament appearance, the nation's longest active streak.