Sherrod helped Mississippi State win three of four Egg Bowls during his time on campus, and he played in a pair of bowl victories - the 2007 Liberty Bowl and the 2011 Gator Bowl.
Over his last two seasons, the Bulldog offense average more than 220 yards per game rushing and finished among the top 20 in yards per game on the ground each season.
"This is a tremendous honor for Derek and a fitting culmination to an outstanding career," head coach Dan Mullen. "Derek represents everything a student-athlete should be and was a tremendous leader for our football team. He'll undoubtedly have a long NFL career and continue to make Bulldog fans proud for years to come."
A three-time selection to the SEC Academic Honor Roll, Sherrod was one of 16 players across all divisions of college football named a National Football Foundation Scholar Athlete and a finalist for the William V Campbell Trophy. He graduated from Mississippi State in 2010 with honors, and began work on his master's in sports administration last fall.
Sherrod is the first offensive lineman selected from Mississippi State since David Stewart was drafted in 2005 and the first Bulldog offensive lineman ever chosen in the first round.
Several other Bulldogs are expected to hear their names called as the 2011 NFL Draft continues Friday with the second and third rounds and concludes Saturday with rounds 4-7.