The 1997–98 NCAA Division I men's basketball season concluded in the 64-team 1998 NCAA Men's Division I Basketball Tournament whose finals were held at the Alamodome in San Antonio, Texas. The Kentucky Wildcats earned their seventh national championship by defeating the Utah Utes 78–69 on March 30, 1998. They were coached by Tubby Smith and the NCAA Basketball Tournament Most Outstanding Player was Kentucky's Jeff Shepherd.

In the 32-team 1999 National Invitation Tournament, the Minnesota Golden Gophers defeated the Penn State Nittany Lions at the Madison Square Garden in New York City.

Following the season, the 1998 NCAA Men's Basketball All-American Consensus First team included Mike Bibby, Antawn Jamison, Raef LaFrentz, Paul Pierce, and Miles Simon. The consensus second team was composed of Vince Carter, Mateen Cleaves, Pat Garrity, Richard Hamilton, and Ansu Sesay.

28 conference seasons concluded with a single-elimination tournament, with only the Ivy League and the Pac-10 choosing not to conduct conference tournaments. Conference tournament winners generally received an automatic bid to the NCAA Tournament.

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