1939–40 Indiana Hoosiers men's basketball team

The 1939–40 Indiana Hoosiers men's basketball team represented Indiana University. Their head coach was Branch McCracken, who was in his 2nd year. The team played its home games in The Fieldhouse in Bloomington, Indiana, and was a member of the Big Ten Conference.

The Hoosiers finished the regular season with an overall record of 20-3 and a conference record of 9-3, finishing 2nd in the Big Ten Conference. Indiana was invited to participate in the 8-team NCAA Tournament. IU won their first and second ever NCAA Tournament Championship by defeating Kansas, 60–42, in the final. Indiana was also retroactively recognized as the national champion by the Premo-Porretta Power Poll.