At the beginning of the season, the head coach was Bobby Knight; however, Knight was fired in early September 2000, and Mike Davis was named interim head coach.

[1] The team played its home games in the Assembly Hall in Bloomington, Indiana, and was a member of the Big Ten Conference.

The Hoosiers finished the regular season with an overall record of 21–13 and a conference record of 10–6, finishing 3rd in the Big Ten Conference.

After losing in the championship game of the Big Ten tournament to Iowa, the Hoosiers earned a 4-seed in the 2001 NCAA tournament.

However, IU quickly exited with a first round loss to 13-seed Kent State.