EuroLeague Awards were established in the 1987–88 season, when the EuroLeague's modern era and the EuroLeague Final Four first began. More awards were created starting the 2000–01 basketball season, when Euroleague Basketball Company essentially took over the management of the premier European competition from FIBA Europe.
The Turkish Airlines EuroLeague Final Four MVP award is the MVP award for the final two games of the EuroLeague season. The award began in the 1987–88 season, when the EuroLeague Final Four modern era began. It is the originating MVP award, intended as the "most valuable player" on the best team award and is generally considered the most prestigious and important individual award given in European club basketball. The award is based on a voting process involving members of the press.
Toni Kukoč of Jugoplastika, Pop 84 and Benetton Treviso won the award three times, two of them consecutively. Vassilis Spanoulis of Panathinaikos and Olympiacos has also won the award three times, two of them consecutively. Dejan Bodiroga also won the award two consecutive times, with two different teams (Panathinaikos and FC Barcelona).
There were two major European club basketball competitions in the 2000–01 season, the Euroleague 2000–01, and the FIBA SuproLeague 2000–01. After the 2000–01 season ended, the EuroLeague took over the FIBA SuproLeague and absorbed it. As part of the agreement, the championship and MVPs won in the SuproLeague were to be kept as records by the EuroLeague. Ariel McDonald won the Final Four MVP of that season's FIBA SuproLeague, however, he did not play in the EuroLeague competition at all that season.