The 1980–81 NCAA Division I men's basketball season began on November 28, 1980, progressed through the regular season and conference tournaments, and concluded with the 1981 NCAA Division I men's basketball tournament championship game on March 30, 1981, at The Spectrum in Philadelphia.

The Indiana Hoosiers won their fourth NCAA national championship with a 63–50 victory over the North Carolina Tar Heels.

[7] Note: From 1975 to 1981, the Eastern College Athletic Conference (ECAC), a loosely organized sports federation of colleges and universities in the Northeastern United States, organized Division I ECAC regional tournaments for those of its members that were independents in basketball.

Indiana won its fourth NCAA title with a 63–50 win over North Carolina and coach Dean Smith.

Precocious sophomore Isiah Thomas was named Final Four Most Outstanding Player in a title game delayed due to the shooting of President Ronald Reagan.