Dickerson was in his first season with the Hawkeyes after spending last season in junior college at Williston State College in North Dakota.
In 15 games this season, Dickerson averaged 2.7 points and 1.2 assists. He only appeared in three of Iowa's last 14 games, totaling 23 minutes. In a loss to No. 5 Wisconsin last month, he scored a season-high eight points with two assists in 10 minutes of action.
"I appreciate the staff and Hawkeye nation for showing me love," Dickerson said. "I enjoyed my time here [but] I have to do what's best for me."
Dickerson was a three-star recruit by Rivals coming out of junior college and held offers from Arkansas, Nebraska, Washington and St. Louis, among others. He was named third team All-America by the NJCAA after averaging 19.8 points and 5.7 assists for Williston in 2013-14.
Iowa (17-10, 8-6 Big Ten) hosts Illinois on Wednesday.
- Molly Geary