Cravens announced his decision in a post on his Twitter account Wednesday.
Cravens is a three-year starter who frequently plays a hybrid role between a linebacker and a safety. The junior is tied for the team lead with 78 tackles, and he leads the Trojans with 5 1/2 sacks and 14 1/2 tackles for loss.
Cravens is expected to be a high draft pick, and he says the opportunity is too good to pass up.
Cravens advocated strongly for the retention of interim coach Clay Helton, claiming it might persuade him to stick around USC for his senior season.
USC faces Wisconsin in the Holiday Bowl on Dec. 30.