The 18 year-old has said she wants to concentrate on her degree, after she has finished shooting the final instalment of the Harry Potter franchise.
Harry Potter And The Deathly Hallows begins filming next year, but the book has been split into two movies because it is so long and complex.
Emma Watson has grown up in the public eye since landing the role of Hermione Granger in Harry Potter, rightIt is understood that Miss Watson, along with co-stars Daniel Radcliffe and Rupert Grint will finish work on production by next autumn.
But producers have agreed to move filming around to fit in with her university timetable if necessary.
Miss Watson said: 'I would like to go to university and complete a degree and so that will mean a break from acting.
'I've always tried to balance my education with my acting career, but I just don't think it will be possible to juggle it with a degree course. I have a need now to study.'
The teenager, who was cast as Hermione Granger at the age of just nine, has grown up on screen.
Emma has developed into one of Britain's most promising actresses: She is seen here with Joely Richardson and Jaime Winstone at London Fashion Week
Her role in the Harry Potter films to date has earned her a fortune of close to £15 million.
For the final instalment of the franchise she will be paid £3 million.
Despite once declaring that she has already earned enough money never to have to work again, she has always insisted that her fame will not stand in the way of her education.
The star, who was educated at Headington School in Oxford, recently achieved straight A grades at A level in her chosen subjects - English literature, geography and art.
Now on her gap year, she is considering whether to go to University here or in the US.
'There are excellent universities over there and I am applying at the moment. If I stay in this country I will read English Literature, and if I go to America I will do a Liberal Arts programme,' she told the Daily Telegraph.
The star has no more film work scheduled once work on Harry Potter draws to a close.
A spokesperson for Miss Watson said: 'Any future projects will take second place to university. Her first commitment will be to her course.'
Her desire to go to university has apparently been fuelled by her parents Chris and Jacqueline, who both went to Oxford.
It was also revealed that earlier this year, Miss Watson had signed a £3million deal to model for Chanel.
Ever since the actress turned 18 in April, she has been responsible for her multi-million pound fortune.
She received advice from prestigious bank Coutts about how to best look after her money, and recently bought a £1million chalet in ski resort Meribel in France.
Meanwhile the new Harry Potter film, Harry Potter And The Half-Blood Prince, has been delayed for release until 2009, to coincide with the money-spinning summer box office season.