You want to remove the wheels, seat post (you may be able to get away with setting this all the way at the bottom or doing nothing depending on how you're storing it), handlebars and pedals.
If you can go to your local bike shop and get a (cardboard) box for shipping bikes, the bike should pack in nicely for storage.
This video shows you the steps in a nice way visually.
You're not shipping it, so you don't need as much bubble wrap and straps and foam, but bubble wrap is nice.
The tools you'll need are likely a set of metric hex keys (mostly 5 mm, possibly 4-8 mm) and a thin adjustable wrench (maybe a pedal wrench too).
To remove the wheels, you likely have quick release wheels, so just pop the lever and unwind it.
Undo the brake's quick release and
the wheel will come out.
Be careful not to let the derailleur get impacted as that can make it come out of adjustment (e.g. don't drop the bike when you have the wheels removed).
The seat post will be either a hex key or quick release.
If its a hex key, try the appropriate size hex key (4-8 mm).
If its a quick release, pop the lever and unwind it.
If you're not using a bike box, I'd stuff the seatpost with a bit of newspaper or something in case critters make a home there.
The seatpost is also likely to be greased, so wipe it clean.
The handlebars should be removed and put to the side of the bike.
I wouldn't disconnect any cables.
(from http://brimages.bikeboardmedia.netdna-cdn.com/wp-content/uploads/2010/08/moots-rsl-road-bike-review-stem02.jpg ) Simply remove the bolts on the front of the stem (the four bolts on the front of the red piece, in this picture), put the handlebars to the side of the bike and re- attach the red piece (so you don't lose it).
You may want to tape them to the bike to prevent them from moving.
For the pedals, you'll either want a thin adjustable wrench which can adjust to about 15 mm or a pedal wrench of the appropriate size (a combo 15 mm + 9/16" will be fine).
Note the left hand side pedal (when you're riding the bike) is counter threaded -- that is, it tightens counter clockwise, rather than clockwise.
The right hand side pedal tightens clockwise.
Remove the pedals.
Wipe the pedal threads and crankset eye clean.
This should all fit nicely into a bike box which would be ideal for storage.
Gloves may be nice for preventing your hand from getting messy.
To re assemble the bike, do this in reverse, making sure to grease your bolts + pedals + seatpost appropriately.
bicycles.stackexchange.com/users/8219/Batman
You will want: hex/allen key set (check standard vs. metric)
pedal
wrench ratchet set or box wrenches (crescent wrench as last alternative) gardening gloves to keep your hands clean
Ensure that you do not strip the fasteners as metric/standard can be a very close fit sometimes.
Save some old t-shirts or towels to wrap around the drive-train to keep it from dirtying your space.
When taking off your left pedal, ensure the chain is on the largest chain-ring to save your knuckles in case your wrench slips while loosening the pedal.
bicycles.stackexchange.com/users/24199/radiocontrolled
Set of Allen (hex) key:
usually 4,5 and 6 mm would do the job.
You can use these Allen key for disassembling handlebar, stem, seatpost, and most pedals Adjustable wrench or (usually) 15 mm wrench: (check if needed) in order to remove the pedal.
You could usually remove the pedal with 8 mm Allen key (sometimes could be 5 mm, 6 mm, or 10 mm).
Check if there is a hexagonal recess in the pedal axle (crank side), and better, check the size so that you could buy a correct Allen key.
The size would be the distance between two opposite (parallel) flat sides of the hexagonal recess.
If it is too much trouble, just buy a set of Allen key from 3-12 mm.
It won't cost much.
You could remove the wheel simply by hand (check if the wheel is clamped by skewer).
bicycles.stackexchange.com/users/14414/Nhân Lê
I take a single multitool when I travel to disassemble/reassemble my bike.
I have an older model crank brothers tool that they don't make anymore, but something similar is available here .
I run pedals that can be taken on and off with a 8mm hex, so I don't need a pedal wrench.
Without a complete breakdown of your bike and all it's parts, one would be hard pressed to tell you definitively what you need.
However, a good multitool and possibly a pedal wrench (depending on your pedals) may be all you need.
bicycles.stackexchange.com/users/13710/Deleted User
Outside the box possibilities.
Is there something that stops you riding your bike in the winter?
Yes winter is colder and wetter, and depending on your location there may be snow.
Perhaps a snow bike would be more year-round....
that's a rigid MTB with studded tyres for winter and commuter tyres for summer.
Second option is to look at hanging your summer bike without disassembling.
Wash and dry it, and hang it up high out of the way.
When summer (or a warm snap) comes you lower the bike, lube it, and ride.
Final option is to ride/ship your bike home and leave it there for winter.
You want as little stuff as possible in a dormitory.
bicycles.stackexchange.com/users/19705/Criggie
I have a bike that I would like to take apart to store for the winter. I live in a college dorm and don't have much space. What are the basic tools that I would need to take it apart?   I think taking apart the wheels, pedals, and handlebar will be enough.  Ex: Screwdriver, wrench  The bike is a Trek 7.2FX
List of tools to take apart a bike to minimise space for storage
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<repair><tools><hybrid-bike><storage>
bicycles.stackexchange.com/questions/36613
bicycles.stackexchange.com/users/24219/Witney Seal
To disassemble a bike, the tools you'll need are likely to be a set of metric hex keys (mostly 5 mm, possibly 4-8 mm), a thin adjustable wrench (maybe a pedal wrench too), a set of wrenches, gardening gloves to protect your hands. Alternatively, you could try to do the entire job with a multitool. It is impossible to say for sure without knowing the bike, but the wheels can probably be opened with a wrench or quick release levers, the seat post with a hex key or QR lever and the pedals with a pedal wrench, hex key or box wrench. Remember that the pedal on the left hand side is cross threaded, and wear gloves to protect your hands. Many modern bikes may only need a multitool and possibly a pedal wrench, but older bikes in particular may require more tools.
It is impossible to say for sure without knowing the bike, but the wheels can probably be opened with a wrench or quick release levers, the seat post with a hex key or QR lever and the pedals with a pedal wrench, hex key or box wrench. Remember that the pedal on the left hand side is cross threaded, and wear gloves to protect your hands. Many modern bikes may only need a multitool and possibly a pedal wrench, but older bikes in particular may require more tools.