Wiley, a heralded recruit coming out of high school, averaged 8.8 points and 4.7 rebounds as a freshman. He did not play last season for Auburn, one of the first teams identified in an FBI investigation into college basketball corruption. Former assistant coach Chuck Person is accused of providing money to Wiley's mother.
Wiley declared for the NBA draft and attended the NBA combine and multiple team workouts before telling ESPN on Tuesday, one day before the deadline to withdraw, that he would be returning to Auburn.
Bruce Pearl's Tigers were arguably college basketball's biggest surprise last season, finishing 26-8 overall and 13-5 in the SEC despite not having the services of Danjel Purifoy or Wiley. Purifoy didn't play last year because of the FBI probe, and the NCAA ruled he must miss the first 30 percent of next season because of eligibility concerns.
Auburn guard Bryce Brown told ESPN he will also be withdrawing from the draft and returning for his senior season. He averaged 15.9 points for the Tigers last season.
Guard Jared Harper also announced his withdrawal from the NBA draft on Tuesday. Harper had 185 assists to help lead the Tigers to a share of the Southeastern Conference regular season title.
The Associated Press contributed to this report.