Draft-day trades

The following trades involving drafted players were made on the day of the draft.

• ^{A 1 2} The Portland Trail Blazers acquired the draft rights to fourth pick Kelvin Ransey and a 1981 first-round pick from the Chicago Bulls in exchange for the draft rights to tenth pick Ronnie Lester and a 1981 first-round pick.^[22]
• ^B The Washington Bullets acquired the draft rights to 25th pick Jeff Ruland from the Golden State Warriors in exchange for a 1981 second-round pick.^[12]

Pre-draft trades

Prior to the day of the draft, the following trades were made and resulted in exchanges of picks between the teams.

• ^{a 1 2 3} On June 9, 1980, the Golden State Warriors acquired the first and the thirteenth pick from the Boston Celtics in exchange for Robert Parish and the third pick.^[23][24] Previously, the Celtics acquired two first-round picks on September 6, 1979, from the Detroit Pistons in exchange for Bob McAdoo. This trade was arranged as compensation when the Celtics signed M. L. Carr on July 24, 1979.^[25][26] Previously, the Pistons acquired 1980 and 1982 first-round picks on July 12, 1979, from the Washington Bullets as compensation for the signing of Kevin Porter as a free agent.^[27] The Warriors used the picks to draft Joe Barry Carroll and Rickey Brown. The Celtics used the pick to draft Kevin McHale.
• ^b On February 8, 1980, the New Jersey Nets acquired Maurice Lucas, 1980 and 1981 first-round picks from the Portland Trail Blazers in exchange for Calvin Natt.^[28] Previously, the Blazers acquired Kermit Washington, Kevin Kunnert and the pick on May 13, 1979, from the San Diego Clippers as compensation for the signing of Bill Walton as a free agent.^[29] The Nets used the pick to draft Mike Gminski.
• ^c On November 2, 1976, the Philadelphia 76ers acquired a first-round pick from the Indiana Pacers in exchange for Mel Bennett.^[30] The 76ers used the pick to draft Andrew Toney.
• ^d On September 21, 1979, the San Diego Clippers acquired a first-round pick from the Cleveland Cavaliers in exchange for Randy Smith.^[31] The Clippers used the pick to draft Michael Brooks.
• ^e On July 16, 1979, the Washington Bullets acquired a first-round pick from the Houston Rockets as compensation for the signing of Tom Henderson as a free agent.^[32] The Bullets used the pick to draft Wes Matthews.
• ^f On February 4, 1980, the Detroit Pistons acquired Kent Benson and a first-round pick from the Milwaukee Bucks in exchange for Bob Lanier.^[33] The Pistons used the pick to draft Larry Drew.
• ^g On January 12, 1979, the Utah Jazz acquired Marty Byrnes, Ron Lee, 1979 and 1980 first-round picks from the Phoenix Suns in exchange for Truck Robinson.^[34] The Jazz used the pick to draft John Duren.
• ^h On February 15, 1980, the Cleveland Cavaliers acquired Don Ford and a 1980 first-round pick from the Los Angeles Lakers in exchange for Butch Lee and a 1982 first-round pick.^[35] The Cavaliers used the pick to draft Chad Kinch.
• ⁱ On February 1, 1980, the Denver Nuggets acquired Alex English and a first-round pick from the Indiana Pacers in exchange for George McGinnis.^[36] Previously, the Pacers acquired the pick on July 19, 1978, from the Boston Celtics in exchange for Earl Tatum.^[37] The Nuggets used the pick to draft Carl Nicks.
• ^j On October 9, 1978, the Golden State Warriors acquired a second-round pick from the Detroit Pistons in exchange for Rickey Green.^[38] The Warriors used the pick to draft Larry Smith.
• ^k On October 9, 1978, the Chicago Bulls acquired Oliver Mack, 1980 and 1981 second-round picks from the Los Angeles Lakers in exchange for Mark Landsberger.^[39] Previously, the Lakers acquired 1977, 1978 and 1979 first-round picks, and a 1980 second-round pick on August 5, 1976, from the Utah Jazz in exchange for a 1978 first-round pick and a 1977 second-round pick. This trade was arranged as compensation when the Jazz signed Gail Goodrich on July 19, 1976.^[40] The Bulls used the pick to draft Sam Worthen.

College underclassmen

The following college basketball players successfully applied for early draft entrance.^[41]