"I am really excited to have a student-athlete of Mike's caliber join us this season," Iona coach Tim Cluess told SNY.tv.
"His leadership and toughness in summer workouts have been tremendous and he will be an integral part of our program."
It remains unclear if Pittsburgh's Derrick Randall and Florida's Eli Carter will also get waivers after transferring in the wake of the MIke Rice scandal, but both are expected to receive them.
Sources said Carter had not yet received his.
Grassroots sneaker guru Sonny Vaccaro previously told SNY.tv that all transferring Rutgers players should get waivers.
A 6-foot-5 junior wing, Poole pledged to Iona in April, as first reported by SNY.tv.
Poole averaged 4.4 points and 3.0 rebounds in 18.6 minutes last season as a junior.
He scored a career-high 18 points against Iona when Rutgers played the Gaels Dec. 9 at Madison Square Garden.