As a collegian, Lebo was a four-year starter (1986–1989) while playing for legendary coach Dean Smith at the University of North Carolina.

After leaving the Tar Heels, Lebo had a brief NBA career as a member of the San Antonio Spurs during the 1989–90 season, appearing in four games.

On March 12, 2010, following a loss to Florida in the 2010 SEC men's basketball tournament in Nashville, Lebo was fired as the head basketball coach at Auburn after compiling a 96–93 record in six years as coach of the Tigers to go along with no post-season NCAA tournament bids.

[3] On April 15, 2021, after former teammate Hubert Davis' hiring as the North Carolina head coach, Lebo was named as one of the three assistants for Davis' inaugural coaching staff, alongside former Tar Heel players Brad Frederick and Sean May.

Conference tournament champion *Lebo underwent hip surgery on January 16, 2017, and missed the rest of the 2016–17 season.