The change of the structure of concentrated colloidal suspensions upon addi
tion of non-adsorbing polymer is studied within a two-component, Ornstein-Z
ernicke-based liquid state approach. The polymers' conformational degrees o
f freedom are considered and excluded volume is enforced at the segment lev
el. The polymer correlation hole, depletion layer, and excess chemical pote
ntials are described in agreement with polymer physics theory in contrast t
o models treating the macromolecules as effective spheres. Known depletion
attraction effects are recovered for low particle density, while at higher
densities novel many-body effects emerge which become dominant for large po
lymers.