Which means the league and the big money can wait for the 6-foot-3, 227-pounder, who, at best was projected as a late first-rounder.
Last year it was Jimmy Clausen and Golden Tate who left with a season at Notre Dame still on the table. Last week, it was tight end Kyle Rudolph who departed early.
Despite being nagged with hamstring problems for a good part of his junior season, Floyd was impressive. In 12 games, he caught 79 passes for 1,025 yards and 12 touchdowns. He was dominant against Miami in the Sun Bowl, catching six passes for 109 yards and two scores.
His top three games this season were Southern Cal (11 catches, 86 yards, 1 TD), Tulsa (11, 104, 2) and Western Michigan (9, 157, 3).
"For Notre Dame, (getting Floyd for another year is) like a major recruit, a proven major recruit," said CBS College Sports recruiting analyst Tom Lemming. "So that's better than anything they had coming in in this class — a guy that's proven to be a premier player already at the major level.
"Here's an experienced receiver that can sort of help the inexperienced quarterbacks next year."
Floyd's presence eases the burden on young receivers like Theo Riddick and TJ Jones.
"I look forward to the expanded leadership role he'll have with the team this year," said Irish coach Brian Kelly. "I have never had a player work as hard as Michael."
Floyd's career game so far was the opener of his sophomore season when he caught four passes for 189 yards and three TDs against Nevada.
He enters his senior season with 171 receptions for 2,539 yards and 28 TDs.
Ask somebody who knows Floyd and the suggestion is that this was more than a football decision.
"I'm sure this had a lot to do with his mom (Theresa Romero) and the commitment he made to get his degree," Mike Scanlon, Floyd's coach at Cretin-Derham Hall High School in St. Paul, Minn., told The Tribune.
Did it surprise Scanlon that he decided to stay?
"No, honestly it didn't," he said. "The school he chose, he's done well and will continue to do well.
"There's no guarantee he's going to have a breakout year, or where he'll go in the draft.
"It all comes back to his mom and his education."
Those are guarantees that he can take to the bank.