Hip Hop Music Awards 2001 is the third (and final to date) annual album produced by the magazine to focus on its nominees of the now-defunct award show.

It features nineteen hip hop and rap hits (two of them being bonus tracks).

It went to number 34 on the Top R&B/Hip Hop Albums chart and peaked at number 28 on the Billboard 200 album chart.The show was live to tape and produced by Terry white, lorri burglund & Shane lord of Bruno White entertainment Orlando, Fl.

Edited by Shane Lord This is the only The Source Hip Hop Music Awards compilation to feature a Billboard Hot 100 and R&B and Hip Hop number one hit: Ms. Jackson.

In addition to that song, two more songs (out of three) made number one on the Hot Rap Tracks chart: Bow Wow (That's My Name) and Oh No.