The 21-year-old was recently named the relief pitcher of the year for the Southland Conference. He led the league with 12 saves, which also was tied for 13th overall in the NCAA. It was the third-most saves in Oral Roberts' history and the highest total since Justin Ramsey had 13 in 2004.
"We had two scouts see him this year," Blue Jays director of amateur scouting Brian Parker said. "It's a young power arm that has some ability with the breaking ball. Good sized kid, he's 6-foot-6, it's a good athletic arm that has two pitches."
The Draft concludes on Saturday, with exclusive coverage of Rounds 11-40 beginning on MLB.com at 1 p.m. ET.
Romano finished the 2014 season with a 2.66 ERA and 49 strikeouts in 40 2/3 innings. He didn't allow a home run and limited opposing hitters to a .221 average.
The recommended slot value for the No. 294 pick is $139,400. He was the third Canadian taken in the Draft after outfielder Gareth Morgan went to Seattle (No. 74) and right-hander Brock Dykxhoorn was taken by Houston (No. 166).
Romano is from Markham, Ontario, which is a suburb of Toronto. He went to Father Michael McGivney Catholic Academy and was part of the Canadian Junior Team program in 2010.
"We valued him in that area, in that part of the Draft," Parker said. "I think he actually lives near here, so he's not too far down the street. That didn't really play into it. It's something we look at, but we didn't really factor that into taking him. We thought the talent was in that area."
Gregor Chisholm is a reporter for MLB.com. Read his blog, North of the Border, and follow him on Twitter @gregorMLB. This story was not subject to the approval of Major League Baseball or its clubs.