Bullock, 22, "initiated a plot to murder the family members of an acquaintance" earlier in the week, according to a statement from the Middlesex County Prosecutor's Office.
Bullock was charged Tuesday with two counts of attempted murder in the first degree and two counts of conspiracy to commit murder in the first degree.
The prosecutor's office said the two victims are not affiliated with the university. Bullock is in police custody awaiting a court appearance, according to the prosecutor's office.
Bullock is no longer on the Scarlet Knights' online football roster. He appeared in at least one game earlier this year, but had not registered any statistics.
Rutgers had off-the-field problems involving players earlier this year.
Eight players were charged with credit card fraud in August. Four of those players left the program or were dismissed prior to the start of the season. The four others remain suspended as their case works its way through the legal system. A Middlesex County judge referred their charges to a grand jury in early October.