The Tulsa World newspaper reported Jarboe's dismissal Friday by Coach Bob Stoops.
The 6-foot-3, 195-pounder, a prized recruit, was sentenced in May to two years' probation and 80 hours of community service for carrying a gun on the grounds of his high school (Cedar Grove) in Decatur, Ga.
He was found with a pistol by an assistant principal at the school and a earlier police report said he tried to hide the gun.
Also, Jarboe was the subject of a 74-second video posted on YouTube and his obscenity-laced rap included references to shooting people and guns.
"We are disappointed in this outcome, but our complete review and the final decision is in the best interest of the program," Stoops said in a statement.
ESPN made Jarboe the nation's 10th-best scholastic receiver last season after his 34 catches produced 643 yards.