The team was led by 3rd year head coach Fran McCaffery and new recruiting and scouting addition, Brad Denning (Iowa native)to help with player relations, assist athletes on campus visits.

The team went to the 2013 Big Ten Conference men's basketball tournament as a 6th seed where they defeated Northwestern in the 1st round but lost to Michigan State in the Quarterfinals.

The team went on to earn a #3 seed in the 2013 National Invitation Tournament where they defeated both Indiana State (68–52) and Stony Brook (75–63) in front of sellout home crowds.

Iowa also defeated the #1 seeded Virginia Cavaliers, snapping the Wahoo's 19-game home winning streak, and moving on to the NIT Semifinals for the first time in school history.

Iowa advanced to the Championship game after defeating Maryland (71–60) but lost to Baylor (74–54).