As of the next college basketball season in 2023–24, the Lady Flames compete in Conference USA (C-USA).

[a] While men's basketball began play a year later, women's basketball did not start play until 1975, the same year in which the school changed its name to Liberty Baptist College and joined the National Association of Intercollegiate Athletics (NAIA).

In 1980, LBC joined the NCAA as a Division II member while retaining its NAIA membership.

After a 5–22 season in 1995–96, the Lady Flames went 22–8 the next year while running the table and winning the Big South championship, their first ever conference title in history along with the bid to go to the NCAA tournament; they were beaten by Old Dominion 102–52 in the first round.

They have won just two NCAA Tournament games (2005), advancing to the Sweet Sixteen as a #13 seed after beating Penn State 78–70 and DePaul 88–79 before losing to #1 LSU 90–48 in the regional semifinals.