The team played its home games in Ann Arbor, Michigan for the 48th consecutive year at the Crisler Center, which has a capacity of 12,707.

[5] The 2014–15 team needed to replace the losses of Nik Stauskas, Mitch McGary and Glenn Robinson III to the 2014 NBA draft and Jon Horford and Jordan Morgan to graduation.

After falling in the quarterfinals of the 2015 Big Ten Conference men's basketball tournament the team's season ended with a 16–16 record.

Horford announced on April 10 that he would use his 5th year of redshirt eligibility by transferring to a graduate program at another school for the 2014–15 NCAA Division I men's basketball season.

[7] On April 26, Horford announced he was transferring to play for the Florida Gators men's basketball team.

[8] On April 15, in a joint press conference on the Big Ten Network,[9] Glenn Robinson III and Nik Stauskas announced that they were declaring themselves eligible for the 2014 NBA draft.

[12] After Stauskas and Robinson declared for the NBA, Michigan signed Muhammad Ali Abdur-Rahkman on April 19.

[17] Immediately following the 2014 NCAA tournament, the earliest predictions started being made by the media despite draft status uncertainty.

[27][28] Despite the projected rankings the Las Vegas 2015 NCAA Division I men's basketball tournament betting lines showed only 11 schools with shorter odds than Michigan who was in a 6-way tie for 12th place at 33:1 on April 29.

[30] Beilein announced on June 3 that Max Bielfeldt had undergone hip surgery and was expected to miss most of the summer.

[33] The team participated in a four-game exhibition tour of Italy that included stops in Rome, Verona, Vicenza, Venice and Lake Como from August 15–24.

[34] On August 28, Beilein became the 2013–14 recipient of the NCAA's Bob Frederick Sportsmanship Award, which honors "an NCAA member institution coach or administrator who exhibits a lifelong commitment to sportsmanship and ethical conduct, leading by example and promoting positive fan involvement in and out of competition.

[38] ESPN's Jeff Goodman expected Michigan to be Wisconsin's main competition in the conference despite all of the talent it lost.

[68] On August 21, the team announced the conference schedule,[69] which included three ESPN Super Tuesday broadcasts.

[71][72] After raising its 2014 Big Ten Championship banner on November 15, Michigan opened its season with a 92–68 victory over Hillsdale College.

Detroit led at the half and tied the score with 5:39 remaining before Michigan went on to win 71–62 despite 24 points and 8 rebounds from Howard.

Michigan led by as many as eight points with just under six minutes left in the game, before Villanova came back to retake the lead for good with 13 seconds remaining.

[84][85] On December 6, Michigan suffered its first home loss of the season to the New Jersey Institute of Technology by a 72–70 margin, despite a career-high 32 points by Levert.

[88] Eastern Michigan was led in assists (6) by Michael Talley,[88] son of Michigan Basketball point guard and alum Michael Talley Jr.[92] The December 9 80–53 loss to #3 ranked Arizona was one point shy of being the largest defeat of the Beilein era.

[105] On January 17 Michigan defeated Northwestern,[106] but lost LeVert for the season after he reinjured the foot that he had had surgery on the prior May.

With LeVert absent, Walton scored 10 of the team's 15 points as it rallied from a 42–37 deficit to assume a 52–44 lead with just 32.5 seconds left.

[116] On January 27 with Walton and Mark Donnal sidelined Michigan defeated Nebraska, as Irvin recorded his first career double-double, leading the team with 14 points and a career-high 12 rebounds.

Illinois finished the game on a 21–2 run that was only spoiled by Michigan free throws with 13 seconds remaining.

[136][137] Dawkins' 31 points was the most by a Michigan freshman since Trey Burke had 32 in 2012 and his 8 three-pointers was the second most in school history, the most by a Wolverine since Glen Rice posted 8 in the 1989 NCAA tournament and the most by a Big Ten player during the season, earning Dawkins the final Big Ten Freshman of the Week honor.

[138][139] In the second round of the 2015 Big Ten Conference men's basketball tournament on March 12, Michigan defeated Illinois after splitting a pair of overtime games won by the home teams during the regular season.

[144][145] The team posted the following statistics:[146] The United States Basketball Writers Association named Michigan's Austin Hatch as its recipient for the men's version of its Most Courageous Award for 2015.