The surprise resignation comes during Miami's awful 4-8 start to the season after ending last year on a 10-game losing streak. Larranaga, the winningest coach in the history of the program, was still under contract until 2027.
"After more than fifty years in college coaching, it is simply time," said Larranaga. "There is never a great moment to step away, but I owe it to our student-athletes, our staff and the University of Miami to make this move now when my heart is simply no longer in the game and I owe it to Liz, Jay, Jon, and my grandchildren to be a greater part of their lives."
"The university needs a new leader of the program, one who is both adept at and embracing of the new world of intercollegiate athletics. It has been the honor of a lifetime to be a part of the Hurricane family and to represent this world-class institution. Most importantly, I have been so blessed to have coached the hundreds of young men who chose to wear the UM jersey and who have gone on to flourish in their respective journeys. I will always be a Cane."
Bill Courtney will fill in as the interim head coach for the rest of the season. Larranaga was 716-483 throughout his career as a coach for Miami, George Mason, and Bowling Green, being the only coach in college basketball history to win at least 100 games as the coach of three different Division I programs.
He took George Mason to the Final Four in 2006 then Miami in 2023, where his Hurricanes ended up losing to a UCONN team that went on to win the National Championship.
"It is hard to fully articulate just what Jim Larranaga has meant to the University of Miami," said university president Joe Echevarria. "His contributions go well beyond the wins, the championships and the Final Four run in 2023. He has elevated our athletics program and increased the visibility of our institution by championing our educational mission. Perhaps most importantly, he has recruited tremendous young men to Coral Gables who earned their degrees and who impacted the community, and we are grateful for his service."
Larranaga commented in a press conference on Thursday that the state of college sports is one of the reasons for his resignation.
He leaves the program with two ACC titles and a 2013 Coach of the Year award.
Miami's season will continue against Boston College (7-5) on New Year's Day.