The preseason All-Americans had decided to leave school to prepare for the NFL draft when it looked as if there would be no football season for the Big Ten. Both are expected to be first-round picks.
They changed their minds after the conference announced on Wednesday that teams would play an nine-game season starting Oct. 23-24.
The news is huge for Ohio State, which behind quarterback and Heisman Trophy finalist Justin Fields has the talent to again compete for a spot in the College Football Playoff.
Wade, who had opted out on Monday, announced on ESPN on Thursday that he would return.
“It was a long day yesterday being with family and friends and taking that time to talk to them and really making the right decision for myself, but I’m going to come back and be a Buckeye and really go strive for this national championship,” Wade said.
“Back in January, I didn’t go to the draft and my goal was to come back, be a captain, get my degree,” he said. “They then canceled football, now it’s back, so since it’s back we got a chance to win a national championship. That’s been my goal since day one.”
Wade said he had an agent but did not sign a contract.
Wade last play resulted in his ejection for targeting in the playoff semifinal loss to Clemson in January.
“I can’t go out like that,” he said.
Davis had announced his decision on Twitter Wednesday.
“I want Buckeye Nation to know that I want to play this season for Ohio State and I am working now to make that a reality,” he said.