The 2023–24 UCF Knights men's basketball team represented the University of Central Florida during the 2023–24 NCAA Division I men's basketball season, marking their first season as members of the Big 12 Conference.

The Knights, in the program's 55th season of basketball, were led by eighth-year head coach Johnny Dawkins and played their home games at the Addition Financial Arena.

They defeated SMU in the First Round of the AAC Tournament before losing in the quarterfinals to Memphis.

The Knights received an at-large bid to the NIT, where they defeated Florida in the first round before losing in the second round to Oregon.

This was also the last season UCF played in the American Athletic Conference before moving to the Big 12 Conference.