"We have standards and expectations at USF and everyone will be held accountable to them,'' USF coach Orlando Antigua said in a statement.
This was a second instance of rules violation this season for Perry. He missed six American Athletic Conference games because of suspension in January and February.
Perry was the Bulls' second-leading scorer last season at 10.1 points per game while shooting 45.7 percent from the field. He also pulled down 6.6 rebounds per game.
He is the second player to be kicked off the team during the offseason. Sophomore point guard Roddy Peters was dismissed in March.
USF finished 8-25 (4-14 American) last season.