The team was led by fourth-year head coach Thad Matta, and played their home games at the Value City Arena, in Columbus, Ohio as members of the Big Ten Conference.

They finished in fifth place in the Big Ten, squarely on the NCAA tournament bubble.

The Buckeyes lost three important players from their 2006–07 NCAA Runners-up team to the NBA draft.

Greg Oden, the 2007 Second Team All-American, was selected in the lottery of the 2007 NBA draft, going #1 to the Portland Trail Blazers.

Mike Conley Jr. and Daequan Cook also were drafted in the first round, by the Memphis Grizzlies and Philadelphia 76ers, but traded to Miami Heat, respectively.