Students are also demanding the college institute a diversity training programme and "cultural affinity" space on campus.
Woodrow Wilson led the US during World War I
Renowned Ivy League university Princeton is considering expunging the name of former US President Woodrow Wilson after student demonstrators called him a racist.
The New Jersey college says it signed an agreement late on Thursday with two other college officials and 17 students.
The deal follows a two-day sit-in outside the office of Princeton President Christopher Eisgruber.
It is the latest in a number of protests over treatment of minority students to sweep US college campuses.
Princeton's Woodrow Wilson School of Public and International Affairs
Mr Eisgruber said Princeton appreciated the "willingness of the students to work with us to find a way forward".
Protest organisers from the Black Justice League have called on Princeton to remove Wilson's name and image from its public spaces.
They are calling for the university's Woodrow Wilson School of Public and International Affairs to be renamed.
Seven per cent of Princeton's students are African American
The Princeton protesters also want the school to institute a cultural competency and diversity training programme and to designate space on campus for "cultural affinity" groups.
Wilson - who led the US during World War I - was a supporter of racial segregation, which was legal at the time and part of US public policy.
He was also an outspoken defender of the Ku Klux Klan.
Wilson wrote a book, A History of the American People, in which he called the group "great".
It contains the sentence: "The white men of the South were aroused by the mere instinct of self-preservation to rid themselves, by fair means or foul, of the intolerable burden of governments sustained by the votes of ignorant negroes and conducted in the interest of adventurers."
Wilson, who was descended from Confederate soldiers, also described black suffrage as a "menace to society" and praised freed slaves who had "stayed very quietly by their old masters".
The 28th US president, who was in office from 1913 to 1921, served as president of Princeton from 1902 to 1910.
Poster Comment:
Fine by me... I never cared much for Wilson anyway...
But if he was a racist KKK bigot on top of everything else, I'd rip his name off of everything, melt down any statues & burn any paintings of him too.