JOIN USThe gunman was confirmed dead on the sixth floor of the Perry-Castañeda Library from an apparent self-inflicted gunshot wound.
The University, which has a large number of Indian students, was locked down after the incident and all classes for the day were cancelled.
The alert system at the campus, which includes an emergency siren and loud speaker system, warned students, faculty and staff to stay in place or off campus.
Emergency text messages were sent and the University website advised students to "stay away" if they were off campus and if on campus, then to lock their doors and to not leave their buildings.
According to the Houston Chronicle, the campus was put on lockdown at 8am when reports came about an armed subject being inside the Perry-Castaneda Library, following which online communication with students and staff began after an hour.
A loudspeaker announced that there was an emergency on campus.
University of Texas Spokesman Rhonda Weldon said: "Now I'm told by campus security that the individual has shot himself on the sixth floor, but I'm not there yet so I can't confirm that."
The library is right across the street from the largest dorm on campus, Jester.
Diagonal to the library is the largest gym on campus, Gregory Gym.
This is not the first time that the University of Texas' Austin campus has witnessed a shooting.
On August 1, 1966, a gunman shot and killed sixteen people from the iconic 307-foot tower at its premises.
Thirty-one people were also wounded in the incident.
It took the police ninety minutes to take over the shooter.