David Kelly, an assistant football coach, also resigned, while Donnie Jones, the school's basketball coach, was suspended for three conference games without pay.
The NCAA said its investigation showed two men associated with a professional sports agency helped Central Florida recruit six high school basketball and football athletes.
The allegation centered on Ken Caldwell, a recruiter for the agency. The report said Caldwell provided benefits exceeding those allowed by the NCAA, including transportation expenses.
"These are serious charges that are as unacceptable to me as I am sure they are to all of our fans," school President John C. Hitt said. "I expect our athletics leadership to set the standard for compliance, and that is not what took place."