The Hall of Fame is administered by a Board of Directors.

The Board of Directors has established the following Eligibility Rules:

1. A candidate may be elected only in recognition of outstanding accomplishments in, and/or service to, basketball as either a player or coach.
2. No nominations of any candidate, living or dead, may be considered until the following number of years have elapsed: Player - 26 years after he or she has played high school basketball; Coach - 10 years after retirement from high school coaching or after 25 years of varsity experience.
3. A candidate to be considered for the Silver Anniversary Team must have graduated 25 years before the current season's state finals. Candidates must have been an outstanding basketball player who possesses high moral character.

The nominating committee, whose members are anonymous, works under the supervision of a Chairman (non-voting member) appointed by the Board of Directors. In a single year, between five and ten living nominees and, in addition, up to three deceased nominees may be inducted into the Indiana Basketball Hall of Fame. Nominating blanks may be secured by contacting the Indiana Basketball Hall of Fame office or downloading and printing the appropriate nomination form files as provided on this web page.