"This is a time of fundamental change in intercollegiate athletics that will set the foundation for the years ahead," Luck, 54, said in a statement. "The challenges both internal and external to the NCAA present a unique opportunity to help shape the landscape for hundreds of thousands of young men and women. It is an honor to join President Emmert, the NCAA staff, and our member institutions in this journey."
The newly created position allows Luck to oversee the day-to-day operations as he brings academic and membership affairs, the eligibility center and enforcement under one umbrella.
"I am very pleased to have Oliver joining our team in the national office," Emmert said in a statement. "He brings to us wide ranging, hands-on experience from across athletic, academic, and business worlds. Most important, his commitment to the success and well-being of our student-athletes is unquestionable. He has demonstrated that commitment on the ground and throughout his life. I'm anxious for him to get started with us."
Big 12 commissioner Bob Bowlsby chaired the search committee for the position, which Luck will begin in early 2015.
"Oliver is a valued colleague and a good friend," Bowlsby said in a statement. "This is an excellent fit for the NCAA and for college athletics. Oliver is smart, analytical, energetic and insightful. While this is a big loss for WVU and the Big 12 it is a tremendous hire for our national association."
Luck was also a member of the inaugural College Football Playoff selection committee as the Big 12 representative. He will be replaced by a Big 12 athletic director on next year's selection committee by this spring, CFP executive director Bill Hancock said.
"Oliver has brought a great perspective to the selection committee, and we will miss him," Hancock said. "He was a valued member whose views were wise and always thoughtful. We wish him well and know that he will be successful in his new position. We're glad he will remain in the college athletics family."
Hancock said the Big 12 will nominate a replacement, and the management committee will review the nomination and make the final decision. The five power conferences (SEC, Big Ten, Pac-12, Big 12 and ACC) are represented on the CFP committee by an athletic director.
Luck had been West Virginia's athletic director since August 2010, and he was instrumental in getting the Mountaineers from the Big East to the Big 12.
"It has been a tremendous honor to serve my alma mater as director of athletics for the past four and a half years," Luck said. "As those who have spent time in West Virginia know, this is truly a special place. ... As a member of the Big 12 Conference, the university is well-positioned for future success and I know that great things lie ahead for WVU."
Luck's son, Andrew, is the Indianapolis Colts' quarterback, and the NCAA offices are based in Indianapolis.
ESPN's Brett McMurphy and Joe Schad, ESPN.com's Heather Dinich and The Associated Press contributed to this report.
Oliver Luck Leaving West Virginia For NCAA
ESPN college football reporter Heather Dinich discusses the NCAA's hiring of Oliver Luck as the executive vice president of regulatory affairs.