The 1981–82 NCAA Division I men's basketball season began on November 27, 1981, progressed through the regular season and conference tournaments, and concluded with the 1982 NCAA Division I men's basketball tournament championship game on March 29, 1982, at the Louisiana Superdome in New Orleans, Louisiana.

The North Carolina Tar Heels won their second NCAA national championship with a 63–62 victory over the Georgetown Hoyas.

In its first game at Capital Centre, Georgetown defeated San Diego State 71–53 before a crowd of 8,302 on December 5, 1981.

North Carolina freshman Michael Jordan hit the game-winning shot as Dean Smith won his first national championship after many near-misses over his career, defeating the Georgetown Hoyas 63–62 at the Louisiana Superdome in New Orleans.

Fred Brown's errant pass to James Worthy in the closing seconds sealed the game, which featured star freshmen Jordan and the Hoyas' Patrick Ewing.