The school made the announcement Wednesday at a celebration of Iowa's trip to the national championship game of the NCAA Tournament, won by South Carolina 87-75, and the record-setting achievements of Clark.
"There will never be another Caitlin Clark & there will never be another 22," Iowa wrote on social media.
Clark won the Wooden and the Naismith National Player of the Year awards in a season in which she broke Pete Maravich's longstanding record for most points scored in college basketball - the most prestigious of her many NCAA records. She ended her Iowa career with 3,951 career points.
"It's super incredible, something I'm very thankful for," Clark said. "There's been a lot of good 22s who have come before me and played for this program, whether it was Kathleen Doyle or Sam Logic. That number holds a lot of weight, far beyond me. I'm really grateful, and it will be a special day when it happens."
Clark is expected to be the No. 1 pick by the Indiana Fever in the WNBA Draft, which is Monday.
No date was announced for the retirement ceremony.
