Stanford quarterback Andrew Luck, the odds-on favorite to be the No. 1 pick in this spring's NFL draft, announced Thursday he will stay in school and play his redshirt junior season.

"I am committed to earning my degree in architectural design from Stanford University and am on track to accomplish this at the completion of the spring quarter of 2012," Luck said in a statement.

The school announced Luck wouldn't be made available for comment.

His father, former NFL quarterback Oliver Luck, said: "This is a win-win for him. He gets to spend another year at Stanford, be part of a team that will be highly ranked again next year, finish his degree and enjoy Palo Alto.

"It's not like the NFL is going anywhere, it's one of the best run leagues in the world. It will still be there when he graduates."

The Carolina Panthers own the No. 1 pick in the NFL draft and indicated earlier this week that they would be interested in drafting Luck if he decided to leave school.

Luck's father, who's also the athletic director at West Virginia, said the possibility of an NFL lockout or being selected by the Panthers did not influence his son's decision.

"Call him old school," Oliver Luck said. "He comes from a faction of people who believe you go to college to pursue your degree."

Luck consulted with the Colts' Peyton Manning and the Rams' Sam Bradford before making the decision, ESPN college football analyst Rodney Gilmore reported. Both quarterbacks made similar choices to stay in school.

Luck's decision to stay at Stanford comes as coach Jim Harbaugh is being wooed by NFL teams for a possible job. Harbaugh met Wednesday with officials with the San Francisco 49ers.

He met with Miami Dolphins owner Stephen Ross on Thursday in the Bay Area, two people with knowledge of the situation said. ESPN's Chris Mortensen reported late Thursday that the Dolphins will retain head coach Tony Sparano, according to sources.

New Denver Broncos chief football executive John Elway has said he hopes to interview Harbaugh for their job.

It's unclear whether Luck's decision to stay in school will impact Harbaugh's decision to leave for an NFL job this year. If Harbaugh does leave Stanford, the opportunity to coach Luck next season will likely make Stanford a plum assignment.