The Jaguars made their first and to date only appearance in the NCAA Tournament in 2003 when they won the Summit League Conference Championship.

The first year of IU Indy basketball, then under the IUPUI identity, was 1971–72 and the school competed as an NCAA Division III Independent.

Beginning with the 2014–15 season, the Jaguars play their home games at the Indiana Farmers Coliseum on the State Fairgrounds.

Prior to the Jaguars' move, the arena underwent a $63 million renovation to modernize it for the fair and for basketball.

[3] The Jaguars joined the Horizon League on July 1, 2017, replacing Valparaiso, which left the conference on the same day.