Newman, a 1949 graduate of Kenyon, and his wife, actress Joanne Woodward, were the honorary chairs of Kenyon's most recent fund-raising campaign from 1998 to 2001, the college said.
Last month, Newman, who won an Oscar for The Color of Money, and earned nine other Academy Award nominations for films such as The Hustler, Hud and Cool Hand Luke, said he was retiring from acting. He is also the founder of a food company, Newman's Own, to fund charities.
At Kenyon, Newman studied English, theater and economics and started a popular laundry service to earn extra money.
"I owe Kenyon a great deal," he said. "I even started my first business there, and I depended on that extra US$60 a week. I personally feel great affection and a debt of gratitude for Kenyon."
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