"I want to apologize for letting down my family, teammates, coaches, Tom Jurich, this university and the Louisville fans," said Behanan.
"We are all really, really disappointed that Chane will no longer be a part of our basketball team," said UofL Coach Rick Pitino. "We love the young man and want nothing but the best for him."
Behanan has averaged 8.3 points, 6.2 rebounds and shot 67.3 percent from the field in 11 games this season. He had two double-doubles this season, including season highs of 13 points and 12 rebounds against Cornell on Nov. 15. Behanan was suspended from the team in mid-October for a month.
A preseason All-American Athletic Conference selection, Behanan averaged 9.8 points, 6.5 rebounds, shot 50.7 percent from the field and totaled 54 steals as a sophomore last season while starting 37 games. He was named to the NCAA Final Four All-Tournament team, producing a double-double against Michigan in the national championship game with 15 points and 12 rebounds.
Louisville (11-2) plays its first game in the American Athletic Conference at UCF on Tuesday (5:05 p.m. ET, ESPN2).