The 6-11 Australian native helped the Runnin' Utes to a 29-6 record this season, a Sweet 16 appearance in the NCAA Tournament, and the Mountain West Conference championship.
Bogut led the nation with 26 double-doubles, ranked 15th in the NCAA in scoring with 20.4 points per game, was second in rebounding at 12.2 per contest and fourth in field goal percentage at 62 percent.
Bogut was Mountain West Conference Freshman of the Year in 2003-04.
"I want to extend my deepest gratitude to Coach (Ray) Giacoletti, his coaching staff, Dr. (Chris) Hill and the athletic department for everything they have done for me to help me get to this point in my life," Bogut said. "I want to give a special thanks to all of my teammates. Without them, I would not be in the fortunate position that I am in today."