Gallon announced his decision Tuesday night in a statement released by the school, saying he decided to turn pro after speaking with his mother and Sooners coach Jeff Capel. The statement did not indicate whether Gallon intends to hire an agent.
Oklahoma opened an internal investigation after TMZ.com reported that Gallon had taken a $3,000 wire transfer from a Florida financial adviser. That investigation is ongoing.
Gallon averaged 10.3 points and 7.9 rebounds last season, the fourth-highest rebounding average for a freshman at Oklahoma.
Teammates Tommy Mason-Griffin and Willie Warren announced after the season that they would turn pro.
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