(Photo credit: Michelle Pemberton/IndyStar / USA TODAY NETWORK via Imagn Images)

Butler men's basketball coach Thad Matta announced his retirement Monday after winning more than 500 games at three schools and earning four conference Coach of the Year honors.

Butler announced that Matta, 58, will remain at his alma mater as a special assistant to the president and athletic director. A national search for his replacement is already underway.

Matta compiled a 502-223 record across 21 seasons at Butler (2000-01, 2022-26), Xavier (2001-04) and Ohio State (2004-17).

His teams reached the NCAA Tournament 13 times, including Final Fours with the Buckeyes in 2007 and 2012. Ohio State lost to Florida in the 2007 national championship game and won the NIT title the next year.

'After taking some time to reflect following the end of the season, I have decided that the time has come for me to step away from the sidelines,' Matta said. 'The love my wife, my daughters and I have for Butler is what brought us back four years ago, and it feels especially meaningful that I conclude my coaching career here.

'Butler has always meant more to us than just basketball -- and that connection is why I'm grateful to continue working with the University and offering my help in any way I can. My commitment to Butler and to the future of this program remains as strong as ever. I want this program to compete at the highest levels of the BIG EAST and national landscape, and I am excited to be part of what we continue to build here.'

Matta was named the Atlantic 10 Coach of the Year in 2001-02 and the Big Ten Coach of the Year in 2005-06, 2006-07 and 2009-10.

'I will always be grateful for the experiences, the relationships, and the memories Butler has given me and my family,' Matta said. 'I'm proud of what we've built together, and I look forward to staying connected and contributing in a new way as the next chapter begins.'

Matta's Bulldogs finished 16-16 (7-13 Big East) this season, which ended with a 91-81 loss to Providence last week in the first round of the conference tournament in New York.

He recorded his milestone 500th victory with a 93-89 win at Georgetown on Feb. 18.

'Thad has made the thoughtful decision, together with his family, to step away from coaching and begin a new chapter in his remarkable career,' Butler president Jim Danko said. 'He has built a Hall of Fame-worthy legacy in college basketball and has been a valued member of our campus community since he first arrived at Butler as a student-athlete in the 1980s. Butler has always been a special part of his story, and we are grateful that he chose to return and finish his coaching career where it all began. We extend our deepest thanks to Coach, his wife Barbara, and their daughters Ali and Emily for the dedication, leadership, and sacrifice they have given to Butler. We are thrilled that the Matta family will remain a part of the Butler community for years to come.'

--Field Level Media