A teacher at Mirzapur United Degree College and its board of directors have also been ordered to answer for their 'negative role' in the incident.
The National University Syndicate, led by Vice Chancellor Mashiur Rahman, made the decision on the basis of an investigation report at a meeting on Wednesday night.
The incident at the Mirzapur United Degree College in Narail sparked when a student posted a photo of controversial BJP figure Nupur Sharma, who recently made headlines in India for incendiary comments on Islam.
Locals say that a group of Muslim students confronted the student the following day, demanding he remove the post. Rumours then spread that Acting Principal Swapan Kumar Biswas 'sided with the student'. He was then harassed and a garland of shoes was hung around his neck.
Rahmatullah, a fourth-year student of Islamic History and Culture at Khulna Government Brajpal College, was then expelled for his role in the incident.
A notice has also been sent to Akhtar Hossain, a teacher at Mirzapur College's Department of Political Science, to explain the 'negative role' he played. An explanation has also been demanded from the college for their 'negligence'.