The Aggies, who last played in the NCAA Division I men's basketball tournament in 2022, are one of 34 college basketball teams with multiple NBA retired jerseys from former players (Sam Lacey and John Williamson) and a team that reached the NCAA Final Four (in 1970).

A Lou Henson-coached team gained national attention during the 1970 NCAA Division I men's basketball tournament by advancing to the Final Four.

NMSU Basketball has seen much success throughout the years, reaching the NCAA Final Four in 1970, the Sweet Sixteen in 1992 among their 23 tournament appearances.

The Hines era ended at the onset of World War II when he was called to duty in September 1940 as a member of a New Mexico National Guard unit assigned to the 45 Infantry Division.

His 1970 team reached the NCAA tournament Final Four, losing to a John Wooden-coached and eventual champion, UCLA.

McCarthy led the Aggies to four straight regular season and tournament titles, including the 1992 Sweet Sixteen run.

[7] The McCarthy era came to a sudden and abrupt end just weeks before the 1997–98 season when new athletic director Jim Paul stripped him of coaching duties, citing the team's poor academic performance.

[8] McCarthy was originally supposed to serve as an assistant athletic director for the balance of his contract, but instead sued NMSU for wrongful termination—a move that would come back to haunt the school later.

The school placed the basketball program on two years' probation and withdrew from postseason consideration during the 2000–01 season.

[10] Henson was lured from retirement to coach the team on an interim basis for the 1997–98 season after McCarthy's ouster.

[11] Henson wanted to donate his time, but state law forbade him from coaching the program for free.

[11] The following season Henson agreed to stay on as head coach on a permanent basis, leading the Aggies back to the NCAA tournament in 1999.

On March 31, 2005, NMSU hired 13-year NBA veteran Reggie Theus, then an assistant at Louisville under Rick Pitino,[12] as head men's basketball coach.

Following the tournament Theus left NMSU to take over the head coaching position of the NBA's Sacramento Kings.

After their 2016 NIT tournament appearance, Marvin Menzies was hired to take over the Nevada-Las Vegas (UNLV) basketball program.

He had been serving in an administrative role at Wichita State after being fired from BGSU in 2015 and was promoted to associate head coach of the Shockers just 4 days prior to being hired by NMSU.

In 2022 New Mexico State won a first round NCAA tournament game against University of Connecticut, before losing to Arkansas.

[15] He was formerly the head coach at Northwest Florida State College, where he won the 2022 NJCAA Men's Division I Basketball Championship.

On February 14, 2023, Greg Heiar was removed as the head coach of New Mexico State men's basketball team due to hazing allegations.

New Mexico State's men's basketball Ring of Honor stands as a tribute to individual players and coaches that are distinguished as Aggie legends.

John Williamson (#24) – is the most prolific scorer in Aggie history, averaging over 27 points per game during the 1971–72 and 1972–73 seasons.