The 6-foot-6 freshman is the No. 21 ranked prospect in ESPN's latest best available list.
Moody was one of three freshman in the country to average 15 points and five rebounds as he led the Razorbacks to their first Elite 8 appearance since 1995.
"I've said it many times that Moses handles his day-to-day business like a pro and he will be ahead of the curve when he starts his professional career," Arkansas coach Eric Musselman said in a statement. "Moses was able to showcase his many talents in our system -- including being our leading scorer and second-best rebounder -- and we believe he continued to make improvements throughout the year to put himself in this position."
Moody thanked the coaching staff and fans in a statement posted to social media on Friday.
Moody, who will turn 19 next month, averaged 16.8 points and 5.8 rebounds and shot 35.8% from 3-point range this season.