Latimer, who caught 72 passes for 1,096 yards and nine touchdowns as a junior last season, sent out a tweet shortly after 5 p.m. ET declaring his intentions.
His complete statement on his decision appeared within his tweet in a link to Instagram.
"I just want to take the time to finally get it out there that I am officially entering the 2014 NFL Draft. I want to thank Indiana University, its alumni and fans for giving me the opportunity to be able to join this great university and be a part of a great family. A special thanks goes to my football family starting from the coaches to my teammates. It's been a great 3 years in the making so many ups and downs but we continued to fight every game until the end. In closing I want to say thank you and I will always bleed that cream and crimson!!! IUFB"
Latimer, a 6-3 215-pound wide receiver from Dayton, Ohio, concluded his three-year IU career with 135 catches for more than 2,000 yards and 17 touchdown receptions.
Follow Terry Hutchens at Twitter.com/Foxsportshutch