The San Antonio Spurs were the champions going into the playoffs, but following a season–ending injury to third–year star Tim Duncan, were eliminated by the Phoenix Suns in the first round, marking the first time since 1987 that a new champion would follow a team enjoying a single season championship tenure.

The Houston Rockets missed the playoffs for the first time since 1992, while the Seattle SuperSonics returned after a one-season absence.

For the first time in franchise history, the Miami Heat swept a playoff opponent by beating the Detroit Pistons 3–0.

He would lose his life in on May 20, when he was driving home after attending Kevin Garnett's birthday party and a drunk driver made a wrong-way turn and crashed into Sealy's car, killing him immediately.

In the conference semifinals, the Miami Heat and New York Knicks met for the fourth consecutive postseason.

With a Game 7 win in the conference semifinals, the New York Knicks eliminated the Miami Heat for the third consecutive postseason.

In the Western Conference Finals, the Los Angeles Lakers took a 3–1 series lead, only for the Portland Trail Blazers to force a Game 7.

With their Eastern Conference Finals victory over the New York Knicks, the Indiana Pacers won their first Eastern Conference title after four previous appearances in the Eastern Conference Finals; however, after this season, the team was radically altered with key players Dale Davis, Derrick McKey and Mark Jackson moving to other teams and Rik Smits retiring.

In Game 7 of the Western Conference Finals, the Los Angeles Lakers used a 15–0 fourth quarter run to overcome a fifteen-point deficit to defeat the Portland Trail Blazers and make their first NBA Finals since 1991.

With the win, the Lakers also avoided the dubious distinction of becoming the seventh team in NBA History to lose a playoff series despite leading 3–1.