Later that same day, though, the school tweeted Dunn had not made any decisions regarding his future, and was still researching his options.
The Yahoo report said a formal announcement is expected "soon."
Dunn, a 6'4" guard who averaged 15.6 points and 7.5 assists for the Friars last season, was listed in several NBA draft prospect rankings as a potential lottery pick.
In SI's first NBA mock draft, Dunn was projected to go No. 17 to the Milwaukee Bucks.
Dunn led Providence to a fourth-place Big East finish and a 22-12 overall record during the 2014-15 season. He was named the Big East Co-Player of the Year along with Villanova's Ryan Arcidiacono.
The Friars made it to the NCAA tournament for only the second time since the 2003-04 season, but lost to Dayton in the Round of 64.
The 2015 NBA draft is on June 25. The deadline for underclassmen to declare for the draft is April 26.
- Will Green