Green played for the Spartans and graduated in 2012. His donation, which is pending approval from the Board of Trustees, is the largest single gift to Michigan State athletics from a former Spartans athlete.
A strength and conditioning facility at the Breslin Center will be named in Green's honor, part of a renovation to Michigan State's home arena.
[Ads /]
Green's donation is intended to inspire others to consider their own support of the university.
"It's not just about basketball," he said. "You know, we always preach the student-athlete word, but I feel a lot of the time the student part is left out. I wanted to make sure that that was a part of what I was giving back."
Green helped the Warriors to the NBA championship last season and then signed an $82 million, five-year contract to stay with Golden State.
Click here for full coverage on the Golden State Warriors.
The Associated Press contributed to this report.