The 6-5 Grant was leading the Fighting Irish in scoring (19.0 ppg) and assists (5.2).
In a 400-plus-word letter, Grant said that he is no longer enrolled in school "due to an academic manner that [he] did not handle properly" and that, as a result, he is no longer a member of the basketball program.
"I take full responsibility for my lack of good judgment and the poor decision that I made. I have no one to blame but myself for the situation," Grant said. "I know and understand the expectations that go with being a student at Notre Dame and I did not live up to those standards.".
Notre Dame coach Mike Brey said Grant's loss might be the biggest he's faced in his 14 seasons as the Irish head into ACC play for the first time.
Notre Dame is currently 8-4 after falling to No. 2 Ohio State (64-61) on Dec. 21.The Fighting Irish have also lost to Indiana State, No. 23 Iowa and North Dakota State. Notre Dame will host Canisius on Dec. 29.
Grant, the son of former NBA player Harvey Grant, said in his statement he plans to return to school:
"It is my full intention to return to Notre Dame as soon as possible following the 2014 spring semester. I intend to do whatever it takes to earn my degree and finish out my college basketball career here. I understand that there is a process that I must go through in order to come back to school and I will be patient with that process.
"As I mentioned at the start of this letter, I take full responsibility for my action. I promise that when I return, I will be a better student and teammate. I want to thank all of those associated with Notre Dame for their support. I love this school, my coaches and teammates and I look forward to reengaging as an active and positive student and athlete at Notre Dame."
Grant was on track to graduate in May 2014 with a degree in Sociology.
With the lost of Grant, Notre Dame will likely look to 6-1 freshman Demetrius Jackson, who is averaging 7.2 points a game, to pick up some of the scoring slack. The Fighting Irish will also likely give more time to little-used freshman Steve Vasturia and V.J.Beachem.