[2] Lietuvos rytas were the defending champion, but were eliminated in the quarter-finals by Juventus.

[5] Žalgiris forward Edgaras Ulanovas was awarded as MVP of the tournament.

Quarterfinals were separated from final matches and played in home team arenas.

[7] Eight highest ranked teams after the first half of the 2016–17 LKL regular season qualified to the tournament.

[8] The draw of the 2017 Karaliaus Mindaugo taurė was held on 9 January 2017 at 14:00 EET in Town Hall of Kaunas.