The 1961 NCAA University Division basketball tournament involved 24 schools playing in single-elimination play to determine the national champion of men's NCAA Division I college basketball in the United States.

Cincinnati, coached by Ed Jucker, won the national title with a 70–65 victory in the final game over in-state rival and defending national champion Ohio State, coached by Fred Taylor.

Jerry Lucas of Ohio State was named the tournament's Most Outstanding Player.

The national third-place game, won by Saint Joseph's over Utah by the score of 127–120 in four overtimes, tied the record for the longest game in NCAA Division I tournament history, set in 1956 in a first-round game between Canisius and North Carolina State.

[2] * – Denotes overtime period * - denotes overtime # - Saint Joseph's was later forced to vacate their appearance in the 1961 NCAA Tournament due to a gambling scandal involving a player on the team.