Richardson became a full-time starter this season and battled consistency as a passer, completing 53.8% of passes for 2,549 yards, 17 touchdowns and nine interceptions.
Florida fell to 6-6 after losing two straight games to end the regular season.
But the 6-foot-4, 232-pound Richardson exuded big-play potential with a strong arm and athleticism to make defenders miss in the running game. He had 42 completions of 20 or more yards and 19 rushes of 10 or more yards. He ran for a total of 654 yards and nine touchdowns.
Richardson said he will not play in the SRS Distribution Las Vegas Bowl against Oregon State Beavers.
Florida recently dismissed backup quarterback Jalen Kitna after he was arrested on child pornography charges, which means the team lacks a quarterback who has attempted a pass this season. Walk-on Kyle Engel could be pressed into duty for the bowl game.
Former Ohio State transfer Jack Miller had surgery in the summer and has not appeared in a game this season.