"It's a great feeling," Gaines told ESPN's Michele Tafoya. "[I'll] do whatever they want me to do."
Gaines led Louisville back to national prominence during his senior season as the Cards finished with a 25-7 overall record, a top 20 ranking and the C-USA Tournament Title.
Gaines averaged 18.2 points and 5.6 assists as a senior and projects as a versatile, athletic point guard in the NBA.
Gaines becomes the first Louisville Cardinal selected in the first round of the NBA Draft since Samaki Walker in 1996.