The school will join the new league, which is expected to be renamed soon, in all sports for the 2014-15 school year. The Golden Hurricane is leaving Conference USA.
"The addition of The University of Tulsa marks another significant step in building a strong conference," commissioner Mike Aresco said. "In common with our member schools, Tulsa brings a rich academic profile, outstanding and storied athletic programs, and a devoted fan base."
Tulsa, the most successful football member of Conference USA, joins a league that has signed a television contract with ESPN and will stage a football championship game after Navy joins as a football-only member in 2015.
"This is a great day for TU athletics,” university president Steadman Upham said at a news conference
Current Conference USA members Central Florida, Memphis, Houston, SMU, East Carolina and Tulane will join Tulsa in the new league. South Florida, Cincinnati, Connecticut and Temple are holdovers.
Tulsa finished the 2012 football season with a 10-3 record that included the Conference USA championship and a win over Big 12 member Iowa State in the Liberty Bowl.
The Golden Hurricane also have enjoyed men's basketball success, going to the NCAA Tournament eight times in a 10-years run that started in the mid-1990s. Tulsa finished 17-16 this past season under coach Danny Manning, the former Kansas star.
Among Tulsa's successful hoops coaches are Nolan Richardson, Tubby Smith, Bill Self and Buzz Peterson.