The Budokan was a popular venue for Japanese professional wrestling for a time, and it has hosted numerous other sporting events, such as the 1967 Women's Volleyball World Championship.

While its primary purpose is to host martial arts contests, the arena has gained additional fame as one of the world's most outstanding musical performance venues.

Numerous acts have recorded live albums at the Budokan, including Casiopea, Joe Hisaishi, Blur, Incubus, TVXQ, Bryan Adams, Bob Dylan, Tom Petty, Eric Clapton, Cheap Trick, Neil Young, Dream Theater, Duran Duran, Toto, Kiss, Ozzy Osbourne, Mariah Carey, Judas Priest, Paul McCartney, Asia, Ringo Starr, Journey, Deep Purple, Masayoshi Takanaka, Hoshimachi Suisei, Michael Schenker Group and Helloween.

The Nippon Budokan is located in Kitanomaru Park in the center of Tokyo, two minutes' walking distance from Kudanshita Subway Station, and near the Imperial Palace and Yasukuni Shrine.

However, due to declining audiences following the death of Mitsuharu Misawa and the retirement of Kenta Kobashi, professional wrestling has ceased running regular shows in the Budokan.

[3] The Muhammad Ali vs. Antonio Inoki hybrid rules fight held at the Budokan in 1976 is seen as a forerunner to mixed martial arts.

The venue is popular for recording live albums because it has good acoustics, is relatively large and Japanese audiences are known for being highly appreciative when appropriate but quiet during performances.

[9] Artists that have released live recordings from the venue include: The National Memorial Service for War Dead is held with the attendance of the Prime Minister, the Emperor and the Empress annually in Budokan on August 15, the day of Japan's surrender.

In November, the Budokan is a venue for the annual Japan Self-Defense Forces Marching Festival, a yearly tradition and the nation's military tattoo first held here in the fall of 1963.

A fictional concert hall based on the Nippon Budokan appeared in the music video game Guitar Hero III: Legends of Rock (2007) under the name "Kaiju Megadome".

Another fictional hall based on the Nippon Budokan appeared in the Japanese pro-wrestling video game Virtual Pro Wrestling 2: Ōdō Keishō (2000).