Coach Danny Manning announced Jones' dismissal Tuesday.
Jones was suspended from all basketball-related activities on March 24, though Manning didn't give a reason for it and said Jones ''needs to make better decisions and earn his way back.'' That suspension was lifted May 20.
Jones is a 6-foot-1 guard from Raleigh who averaged 4.7 points, 3.0 assists and 21 minutes. He started six games as a junior last season.