The Panthers, led by second-year head coach Rob Jeter, played their home games at the UW–Milwaukee Panther Arena as members of the Horizon League.

[1] They lost in the first round of the Horizon League tournament to University of Illinois Chicago.

The team was automatically placed in the semifinals round of the Horizon League tournament, beating Loyola University Chicago 80-66 to advance to the Horizon League Finals.

[3] The Panthers then beat Butler University 87-71, granting Milwaukee an automatic bid into the 2006 NCAA Division I men's basketball tournament for the third time in history, and second time in a row.

[5] After their upset win, the Panthers faced third seeded and eventual champions Florida, losing 60-82.