Duke head coach Mike Krzyzewski, who recruited Hood out of high school, made the announcement Thursday.
Hood will sit out the 2012-13 season because of NCAA transfer rules and will have three seasons of eligibility remaining, Duke said.
Krzyzewski said he thinks Hood will have a "huge positive impact" on the program after a year of preparation.
Hood, a 6-foot-8 swing player, was an SEC All-Freshman Team selection.