Bill L. Shepherd Jr. (born November 18, 1949) is an American former basketball player.

A 5 ft 10 in (1.78 m) guard born in Bedford, Indiana, Shepherd played at Carmel High School, where he was coached by his father, Bill Shepherd Sr.

[1] He then played at Butler University, also his father's alma mater, from 1969 to 1972, and set school records for highest career scoring average (24.1 points per game) and highest scoring average in a season (27.8 points per game).

[2] From 1972 to 1975, Shepherd played in the American Basketball Association as a member of the Virginia Squires, San Diego Conquistadors, and Memphis Sounds.

He averaged 5.7 points per game in his professional career, and led the ABA in three-point field goal percentage (.420) during the 1974–75 season.