"While this decision is heart-breaking, I find solace in knowing that the award was made possible by the support and love of so many," Bush said. "Those are gifts that can never be taken away."
The Heisman Trust has been investigating whether Bush should have the award revoked. The trust had not made a decision.
USC's athletic director, Pat Haden, said the current and future players will be the ones to suffer for years to come from Bush's actions.
"Reggie Bush was a fantastic football player. Nobody can deny that," Haden said. "He was one of the most exciting guys to play here. By his own admission today, he made some mistakes. We've returned our Heisman, he has returned his, and that's about all we can do."
Others on campus believe Bush made the right decision in giving the trophy back.
"He knows that he kind of messed up and he's taking the blame for it without getting punished," said USC student Jeffrey Moghavem. "That's a respectable to do."
Texas' Vince Young, who came second in the balloting in 2005 for the Heisman, said through his Twitter account that he will continue to recognize Bush as the award's winner. The Associated Press contributed to this report.
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