"I am very thankful for the past three years at Clemson University that have enabled me to grow academically, athletically, and spiritually," Watkins said in a statement released by the school. "After much prayerful consideration, I have decided to take the next step in pursuing my lifelong dream of playing in the NFL.
"I would not have this opportunity without the support and encouragement of my family, coaches, teammates, and the best fans in college football. No matter where my next steps may lead, I will always take pride in the PAW and will forever be a part of the Clemson family."
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.