"I was very fortunate to have the experience of playing and going to school at TCU," Fisher wrote. "The memories of rebuilding a basketball program with and for my classmates, fans, and teammates will be cherished forever. I just thought at this point in time it is best to continue elsewhere."
Fisher will transfer out of the program following the season, a source confirmed to ESPN's Jeff Borzello, but will remain enrolled at TCU to continue rehabbing his knee. He took to Twitter to clarify his injury isn't season-ending, and that he's sitting out due to discomfort in his knee.
The 21-year-old Fisher played in 61 games - starting 56 - during his three seasons with the program, averaging 10.9 points and 4.2 assists while shooting 40.9 percent from downtown.
However, he struggled to remain on the court, tearing his right meniscus last January and undergoing another right knee surgery in September. Before being shut down this season, the guard played in nine games and was fourth on the team in both minutes (24.1) and points (12.1) per contest.
Overall, Fisher's undergone six surgeries in three years dating back to high school, according to Drew Davison of the Star-Telegram.
TCU is 2-2 in Big 12 play and 13-3 overall ahead of Saturday's game against Kansas State.