The complete field of 32 teams that participated in the FIBA Basketball World Cup 2023 was determined on 27 February 2023 at the conclusion of the sixth window of qualifiers.

[21] Alongside Finland, Slovenia, Egypt, and Mexico returned to the World Cup since the 2014 edition after notably missing the 2019 tournament in China.

After winning the silver medal at the 2019 World Cup in China and nine consecutive appearances dating back to 1986 in Spain, reigning FIBA AmeriCup champions Argentina failed to qualify for the tournament after their defeat to the Dominican Republic in the final window of qualification.

The qualified teams, listed by region, with numbers in parentheses indicating final positions in the FIBA Men's World Ranking before the tournament were:[35]

[38] FIBA Basketball World Cup 2023 Global Ambassador Luis Scola (Argentina) and 2011 NBA champion Dirk Nowitzki (Germany) led the draw ceremony, along with Local Ambassadors from the three host nations: 2014 Philippine World Cup team member LA Tenorio and Miss Universe 2018 Catriona Gray (Philippines), former national team member and current president of Levanga Hokkaido Takehiko Orimo (Japan), and actor Raffi Ahmad (Indonesia).

The Philippines were allocated to Pot 1 as the hosts of the final stage of the tournament, alongside the three best-qualified teams: Spain, the United States, and Australia.

During the draw for the 2023 FIBA Basketball World Cup qualifiers on 31 August 2021, it was revealed that a new venue located at the Gelora Bung Karno Sports Complex would be used for the tournament.

[48] In the Philippines, the designated training venues for participating teams are the Rizal Memorial Coliseum and the Ninoy Aquino Stadium in Manila, the PhilSports Arena and the Meralco Gym in Pasig.

[58] A turnover ceremony was held at halftime of the final between Argentina and Spain at the Wukesong Arena in Beijing, to officially hand over the hosting rights of the FIBA Basketball World Cup from China to the three co-hosting countries.

[60] Other dignitaries present at the turnover ceremony were then-FIBA President Horacio Muratore and FIBA Basketball World Cup 2019 Global Ambassador Kobe Bryant.

[62] In February 2020, then-Indonesian Youth and Sports Minister Zainudin Amali revealed plans for a new arena to be built in Jakarta for the tournament, with a capacity of between 15,000 and 20,000.

[65] President Widodo and Acting Governor of Jakarta Heru Budi Hartono officially inaugurated the Indonesia Arena on 7 August 2023.

[67] On 25 August 2020, three years before the start of the tournament, Okinawa City officials conducted a symposium on the construction of an acceptable system for the World Cup.

[68] Philippine president Bongbong Marcos signed an administrative order on 27 March 2023, creating an inter-agency task force to prepare for the country's hosting of the World Cup, involving several government agencies.

[70] Classes in public schools and government work in Metro Manila and Bulacan were suspended for the tournament's opening ceremony on 25 August 2023.

[85] On 26 February 2023, the Fédération Française de Basketball announced that France played in various participation games from July to August in the build-up to the World Cup – against the national teams of Tunisia, Argentina, Lithuania, Montenegro, and Venezuela.

[91][non-primary source needed] On 7 June 2023, the Italian Basketball Federation announced that warm-up games featuring Cape Verde, China, Italy, and Turkey were played from 4 to 5 August in Trento.

[107][108] Philippine president Bongbong Marcos was originally scheduled to make the ceremonial ball toss in Bocaue, but was unable to after arriving late in the venue for an undisclosed reason.

It was held on the same day at a later time at the Indonesia Arena in Jakarta, before the Group H game between Canada and France and featured a performance from Indonesian singer and actress Agnez Mo.

The trophy tour was launched at the Bonifacio Global City in Taguig, Metro Manila, Philippines during the week of the World Cup draw.

[129] Prior to the launch, the trophy made rounds across several media outlets before visiting the Fort Bonifacio Tenement in Taguig a day after the draw.

Former Argentina national team player and two-time FIBA Basketball World Cup silver medalist Luis Scola was named a Global Ambassador for the tournament on 14 December 2022.

[171] Two-time NBA champion and 2006 World Cup winner Pau Gasol joined Scola as one of the tournament's Global Ambassadors on 6 February 2023.

[173] Ten-time NBA All-Star and three-time Olympic Gold Medalist Carmelo Anthony was also named a Global Ambassador on 24 February 2023.

[174] In August 2022, Indonesian actor Raffi Ahmad[175] and Miss Universe 2018 Catriona Gray[176] were announced as local ambassadors for the tournament in Indonesia and the Philippines, respectively.

Former Philippine national team members LA Tenorio, Jeff Chan, Larry Fonacier, and Gary David were also named local ambassadors.

[177] Former Japanese national team player and current Levanga Hokkaido president Takehiko Orimo was announced as a local ambassador in the weeks leading up to the World Cup draw.

[184] On the last day of the tournament, FIBA concluded that attendance was lower than expected citing high ticket pricing, especially the middle tiers.

[226] Serbian player Boriša Simanić was rendered injured after he was elbowed by Nuni Omot of South Sudan with two minutes left in the game.

[231] Senator Francis Tolentino defended his colleagues insisting that there is nothing wrong to "express personal political beliefs" even in a FIBA game.