The 2003–04 NBA season was the Rockets' 37th season in the NBA and its 33rd season in the city of Houston. The season saw the Rockets move their home games from Compaq Center to the new Toyota Center. During the offseason, the Rockets hired head coach Jeff Van Gundy, who is best known for his tenure with the New York Knicks and signed free agent Jim Jackson. The Rockets finished fifth in the Midwest Division with a 45–37 record, and qualified for the playoffs for the first time since 1999 as the number 7 seed in the Western Conference. They were eliminated from the playoffs by the Los Angeles Lakers, who added Karl Malone and Gary Payton to join Shaquille O'Neal and Kobe Bryant, in five games. Following the season, Steve Francis, Cuttino Mobley, and Kelvin Cato were all traded to the Orlando Magic and Mark Jackson retired.

For the season, the team sported new uniforms and a new logo, which currently remains in use.

(2) Los Angeles Lakers vs. (7) Houston Rockets: Lakers win series 4–1

Last Playoff Meeting: 1999 Western Conference First Round (Los Angeles won 3-1)