Wiggins and the two assistants — Kenya Landers and Michael Landers — were fired after a school investigation found academic and recruiting misconduct. Two Ole Miss players were also deemed ineligible.
Assistant coach Brett Frank has been named the interim coach for this season.
A release from the university says the ban includes the Southeastern Conference tournament and any other postseason invitations. The NCAA is also investigating the program, and the school says "details of the additional penalties will be announced at the appropriate time."