The Illini played their home games at the State Farm Center in Champaign, Illinois as members of the Big Ten Conference.

The team was then awarded the #3 seed in the East region of the NCAA Tournament, in which they advanced their first Elite Eight since 2005.

The Illinois Fighting Illini men's basketball team drew an average home attendance of 14,990 in 18 games in 2023-24.

After declaring for the 2023 NBA draft, both Terrence Shannon Jr. and Coleman Hawkins withdrew and returned to the Illini.

In August, the Illini took a ten-day trip to Spain where they played and won three games against Spanish teams.