Cephus tweeted the eligibility update and Wisconsin confirmed it to ESPN.
Cephus returned to practice earlier this week, but his eligibility remained in doubt because of a lack of academic credits relating to his expulsion from the university this spring for violating its nonacademic misconduct code.
He was acquitted of the charges July 2. Wisconsin chancellor Rebecca Blank reinstated Cephus to the university on Monday, and he rejoined the team later that day.
Cephus was suspended from the team in August 2018 after being charged with second- and third-degree sexual assault. Wisconsin athletic department policy requires an automatic suspension for any student-athlete accused of a felony.
Cephus appeared in 23 games for Wisconsin in 2016 and 2017. He was the team's top wide receiver in 2017 before suffering a broken leg against Indiana in November. The Macon, Georgia, native has 34 career catches for 595 yards and six touchdowns with Wisconsin.
The 19th-ranked Badgers open their season Aug. 30 at South Florida.