Park redshirted last season after arriving at Georgia in 2014 as the No. 12 pro-style quarterback in the country, according to Rivals.com.
The three players had been competing to replace departing senior Huston Mason, who started 13 games last season.
The Bulldogs also recently welcomed in a transfer at the position, former Virginia quarterback Greyson Lambert.
"We've had conversations during which we discussed all the viewpoints," Georgia coach Mark Richt said in a news release. "In the end, he feels like the opportunity for significant playing time would be better at another school. I can understand his decision, and we'll support him in finding a good fit at another institution."
Georgia opens the 2015 season on Sept. 5 against Louisiana Monroe.