Scouts Inc. rates Watkins as the highest-rated wide receiver and No. 4 player overall available. ESPN analyst Todd McShay projected him as the 13th overall selection in his mock draft.
Bryant told ESPN that he and Watkins will train together in preparation for the draft.
"It's the right thing to do for my family," Bryant said.
Watkins had a record-setting night with 16 catches for 227 yards and two scores in Clemson's 40-35 victory over Ohio State in Friday night's Discover Orange Bowl. Watkins became Clemson's career receptions leader and set an Orange Bowl record for yardage.
Watkins had 101 catches for 1,464 yards and 12 touchdowns this season.
Bryant also caught two touchdown passes in the Tigers' Orange Bowl victory. He finished the year with 42 catches for 828 yards and seven touchdowns.
Information from The Associated Press was used in this report.