Zeller is the second Hoosiers star to leave school early. On Tuesday, junior swingman Victor Oladipo announced he, too, was entering the NBA draft.
Neither decision was a surprise because both are projected to be lottery picks in June.
Zeller, a 7-footer, could have left school last year but decided to return for one more shot at a national championship. He led the Hoosiers in scoring (16.5 points) and rebounding (8.1), was a second-team All-American and is projected to be a top 10 pick in June's draft.
Zeller's older two brothers, Luke and Tyler, both played in the NBA this season.
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