"Because of the ability to test the waters without losing eligibility, it seems like the perfect opportunity for me to try out with NBA teams and get feedback from them directly regarding my strengths and weaknesses," he said in a statement.
The 6-foot-7 forward averaged 17 points and 7.6 rebounds in 31.9 minutes per game for Louisville, being named ACC Most Improved Player and third-team all-conference.
Nwora will preserve the option to return to school for his junior year pending the feedback he receives from NBA teams.
"If the feedback is positive, I would stay in the draft. If the feedback indicates I should return to school for continued development, then that's what I will do," he said. "Either way, it is a positive experience that will allow me to find out what specifically NBA teams want me to improve to enhance my draft stock, whether it is for this year or next year."
Nwora is currently ranked No. 76 among ESPN's top 100 prospects for this summer's draft.
"I fully support Jordan as he tests the draft waters on where he stands in his basketball future," Louisville coach Chris Mack said in a statement. "When the time comes to make his decision it will be with feedback straight from the source, the NBA."