"I just want to say thank you to the Kansas coaching staff, the team doctors, all the staff, and the fans for supporting me since I got to Lawrence," Thompson told 247 Sports' Eric Bossi.
"I appreciate everybody supporting me from Day 1, but after careful consideration with my family, I feel that it is in my best interest to enter the transfer portal."
A former McDonald's All-American and five-star prospect, Thompson struggled with a broken hand and a back injury in his debut season in Lawrence. The 6-foot-5 guard from Tulsa, Oklahoma, averaged 4.6 points and was limited to four starts.
Thompson's father, Rod, played for Self at Tulsa in the late 1990s.