Wade chose to play college basketball for Tom Crean at Marquette University in Milwaukee, Wisconsin. During Wade's freshman year at Marquette, he was ineligible to play with the men's team due to a violation of the NCAA's Proposition 48. Wade sought tutoring to improve his writing skills in order to regain eligibility. When Wade became eligible to play the following year 2001–2002, he led the Golden Eagles in scoring with 17.8 ppg, led the conference in steals at 2.47 per game, and accumulated averages of 6.6 rebounds per game and 3.4 assist per game.
Marquette finished with a 26–7 record, the school's best record since the 1993–94 season. In 2002–03, Wade led Marquette in scoring again with 21.5 ppg and Marquette won the school's first and only Conference USA championship with a 27–6 record. That season Wade led the Golden Eagles to the Final Four, the school's first appearance in the Final Four since winning the 1977 national championship. After the season, he was named to the All-America First Team by the associated press; Wade is the first Marquette basketball player since 1978 to do so.
Marquette finished with a 26–7 record, the school's best record since the 1993–94 season. In 2002–03, Wade led Marquette in scoring again with 21.5 ppg and Marquette won the school's first and only Conference USA championship with a 27–6 record. That season Wade led the Golden Eagles to the Final Four, the school's first appearance in the Final Four since winning the 1977 national championship. After the season, he was named to the All-America First Team by the associated press; Wade is the first Marquette basketball player since 1978 to do so.