"I am thankful for the assistance Coach Beilein and the staff have given me in order to gain as much information as possible before making this decision. They showed great confidence and patience with me while I sorted this all out," Matthews said in a statement. "After much prayer and discussions with my family and the staff, I am excited to be returning to Michigan next year. I learned a lot throughout this process, but my main focus will now be completing my education at Michigan and leading my teammates to more success next season."
Matthews averaged 13.0 points and 5.0 rebounds in 2017-18, his first at Michigan. He previously played a year at Kentucky before transferring.
"This process allows young men to gather so much valuable information and make the most informed decision they can," Michigan coach John Beilein said. "Charles has an incredible personality and confidence. His work habits and desire to reach his potential are terrific. He is more focused than ever to improve in all areas of his game. Like others before him, Charles will be a great senior leader for us and we are excited to have this opportunity to coach him again next season."
Matthews declared for the draft following Michigan's run to the national championship game but did not hire an agent. Wednesday is the deadline for players who declared but did not hire representation to withdraw their names.
Matthews scored in double figures in five of Michigan's six NCAA tournament games and will be the team's leading returning scorer. Because he used a redshirt season when transferring, Matthews will have two years of potential eligibility remaining.
Matthews was considered a late second-round or undrafted free agent had he kept his name in the draft.