Latimore, a 6-foot-8, 238-pound forward from Halstead, Kan., averaged 3.2 points and 3.1 rebounds in 23 games this season. He connected on 51.9 percent of his field goal attempts (27-of-52) and tallied 13 assists and seven blocked shots in 277 minutes played.
"We certainly are disappointed that Dennis made this decision," said Olson. "He was well liked by the staff and his teammates and came to this decision on his own. We wish him the best of luck."
Latimore will be free to transfer to a school of his choosing. He has given no indication of his future endeavors.
In his 57-game career, Latimore averaged 2.4 points and 2.8 rebounds, while shooting 46.9 percent from the field. He made one career start and averaged 11.4 minutes per game.