Draft-day trades

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

• ^{A 1 2} The Indiana Pacers acquired the draft rights to 32nd pick Mike Olliver from the Chicago Bulls in exchange for the draft rights to 36th pick Ray Blume and a 1982 second-round pick.^[14]

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 4} On June 8, 1981, the Atlanta Hawks acquired a 1981 first-round pick and a 1981 second-round pick from the Chicago Bulls in exchange for a 1981 first-round pick, a 1982 second-round pick and an option to swap 1982 first-round draft picks.^[15] Previously, the Bulls acquired the draft rights to Ronnie Lester and the first-round pick on June 10, 1980, from the Portland Trail Blazers in exchange for the draft rights to Kelvin Ransey and a 1981 first-round pick.^[16] Previously, the Blazers acquired the pick on February 8, 1980, from the Philadelphia 76ers in exchange for Lionel Hollins.^[17] Previously, the 76ers acquired the pick and a 1983 first-round pick on October 3, 1977, from the Cleveland Cavaliers in exchange for Terry Furlow.^[18] The Hawks used the picks to draft Al Wood and Clyde Bradshaw. The Bulls used the pick to draft Orlando Woolridge. The Blazers used the pick to draft Darnell Valentine.
• ^b On January 4, 1978, the Seattle SuperSonics acquired a first-round pick from the Utah Jazz in exchange for Slick Watts.^[19] The Sonics used the pick to draft Danny Vranes.
• ^c September 25, 1980, the Kansas City Kings acquired Joe Meriweather and a first-round pick from the New York Knicks in a three-team trade with the Knicks and the Cleveland Cavaliers.^[20] Previously, the Knicks acquired a first-round pick on October 4, 1978, from the Seattle SuperSonics in exchange for Lonnie Shelton and a 1979 first-round pick. This trade was arranged as compensation when the Knicks signed Marvin Webster on September 29, 1978.^[21] The Kings used the pick to draft Steve Johnson.
• ^d On December 3, 1980, the Dallas Mavericks acquired 1981 and 1985 first-round picks from the Denver Nuggets in exchange for Kiki Vandeweghe and a 1986 first-round pick.^[22] The Mavericks used the pick to draft Rolando Blackman.
• ^e 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.^[23] Previously, the Blazers acquired the pick on June 7, 1978, from the Golden State Warriors in exchange for a 1978 first-round pick.^[24] The Nets used the pick to draft Albert King.
• ^f On June 12, 1980, the Detroit Pistons acquired a first-round pick from the Kansas City Kings as compensation for the signing of Leon Douglas as a free agent.^[25] The Pistons used the pick to draft Kelly Tripucka.
• ^g On September 21, 1978, the Utah Jazz acquired a first-round pick from the Houston Rockets in exchange for Slick Watts.^[19] The Jazz used the pick to draft Danny Schayes.
• ^{h 1 2} On June 8, 1981, the Indiana Pacers acquired 1981 and 1982 second-round picks on June 8, 1981, from the Cleveland Cavaliers. This trade was arranged as compensation when the Cavaliers signed James Edwards on May 25, 1981.^[26] Previously, the Kansas City Kings acquired a first-round pick on June 8, 1981, from the Cavaliers in exchange for the second-round pick. This trade was arranged as compensation when the Cavaliers signed Scott Wedman.^[27] Previously, the Cavaliers acquired the first-round pick on May 20, 1981, from the New York Knicks in exchange for Randy Smith.^[28] The Kings used the pick to draft Kevin Loder. The Pacers used the pick to draft Ray Blume.
• ⁱ On August 15, 1980, the New Jersey Nets acquired a first-round pick from the San Antonio Spurs as compensation for the signing of George Johnson as a free agent.^[29] The Nets used the pick to draft Ray Tolbert.
• ^j On October 19, 1978, the Boston Celtics acquired Chris Ford and a second-round pick from the Detroit Pistons in exchange for Earl Tatum.^[30] The Celtics used the pick to draft Tracy Jackson.
• ^k On October 9, 1979, the Portland Trail Blazers acquired a second-round pick from the Indiana Pacers in exchange for Clemon Johnson.^[31] Previously, the Pacers acquired Bob Carrington, 1980 and 1981 second-round picks on January 27, 1978, from the New Jersey Nets in exchange for John Williamson.^[32] The Blazers used the pick to draft Brian Jackson.
• ^{l 1 2} On September 12, 1980, the San Antonio Spurs acquired two second-round picks from the Chicago Bulls as compensation for the signing of Larry Kenon as a free agent.^[33] Previously, the Bulls acquired one of the pick on August 8, 1980, from the Seattle SuperSonics as compensation for the signing of Dennis Awtrey as a free agent.^[34] Previously, the Bulls acquired Oliver Mack, 1980 and 1981 second-round picks on February 13, 1980, from the Los Angeles Lakers in exchange for Mark Landsberger.^[35] Previously, the Lakers acquired 1980 and 1981 second-round picks on October 24, 1979, from the Cleveland Cavaliers in exchange for Kenny Carr.^[36] The Spurs used the picks to draft Gene Banks and Ed Rains.
• ^m On July 8, 1980, the Kansas City Kings acquired a second-round pick from the Atlanta Hawks as compensation for the signing of Tommy Burleson as a free agent.^[37] Previously, the Hawks acquired a 1980 second-round pick and re-acquired their second-round pick on November 23, 1979, from the Utah Jazz in exchange for Terry Furlow.^[18] Previously, the Jazz acquired the pick and a 1980 second-round pick on October 10, 1979, from the Hawks in exchange for Ron Lee.^[38] The Kings used the pick to draft Eddie Johnson.
• ⁿ On August 4, 1978, the Boston Celtics acquired Nate Archibald, Marvin Barnes, Billy Knight, 1981 and 1983 second-round picks from the San Diego Clippers in exchange for Kevin Kunnert, Kermit Washington, Sidney Wicks and Freeman Williams.^[39] The Celtics used the pick to draft Danny Ainge.
• ^o On June 9, 1980, the Chicago Bulls acquired a second-round pick from the Denver Nuggets in exchange for Cedrick Hordges.^[40] The Bulls used the pick to draft Mike Olliver.
• ^p On June 10, 1980, the Golden State Warriors acquired a second-round pick from the Washington Bullets in exchange for the draft rights to Jeff Ruland.^[41] The Warriors used the pick to draft Sam Williams.
• ^q On September 11, 1980, the Denver Nuggets acquired Wayne Cooper and a second-round pick from the Utah Jazz in exchange for Bernard King.^[42] Previously, the Jazz acquired the pick and a 1980 third-round pick on October 9, 1979, from the Golden State Warriors in exchange for Robert Smith.^[43] The Nuggets used the pick to draft Ken Green.
• ^r On June 8, 1981, the Washington Bullets acquired 1981 and 1983 second-round picks from the Houston Rockets in exchange for Elvin Hayes.^[44] The Bullets used the pick to draft Charles Davis.
• ^s On October 1, 1980, the Los Angeles Lakers acquired a second-round pick from the Detroit Pistons in exchange for Wayne Robinson.^[45] Previously, the Pistons acquired a second-round pick on September 18, 1979, from the Portland Trail Blazers in exchange for Jim Brewer.^[46] The Lakers used the pick to draft Harvey Knuckles.
• ^t On September 26, 1980, the Washington Bullets acquired 1981 and 1982 second-round picks from the San Antonio Spurs in exchange for Dave Corzine.^[47] The Bullets used the pick to draft Claude Gregory.
• ^u On June 9, 1980, the Dallas Mavericks acquired a second-round pick from the Phoenix Suns in exchange for Wiley Peck.^[48] The Mavericks used the pick to draft Elston Turner.
• ^v On February 4, 1980, the Washington Bullets acquired John Williamson and a second-round pick from the New Jersey Nets in exchange for Roger Phegley.^[32] Previously, the Nets acquired Otis Birdsong and the pick on June 8, 1981, from the Kansas City Kings in exchange for Cliff Robinson.^[49] Previously, the Kings acquired the pick on June 19, 1980, from the Milwaukee Bucks as compensation for the signing of Len Elmore as a free agent.^[50] The Bullets used the pick to draft Steve Lingenfelter.
• ^w On June 28, 1978, the Houston Rockets acquired a second-round pick from the Boston Celtics as compensation for the signing of Kevin Kunnert as a free agent.^[51] The Rockets used the pick to draft Ed Turner.
• ^x On October 31, 1980, the Cleveland Cavaliers acquired Kim Hughes, a 1981 third-round pick and a 1982 second-round pick from the Denver Nuggets in exchange for Dave Robisch.^[52] The Cavaliers used the pick to draft Mickey Dillard.
• ^y On December 4, 1979, the New York Knicks acquired a third-round pick from the Washington Bullets in exchange for Jim Cleamons.^[53] The Knicks used the pick to draft Frank Brickowski.
• ^z On November 3, 1980, the Golden State Warriors acquired a fourth-round pick from the Seattle SuperSonics in exchange for Rudy White.^[54] The Warriors used the pick to draft Lewis Lloyd.
• ^aa On July 10, 1978, the Kansas City Kings acquired a fourth-round pick from the Denver Nuggets in exchange for Geoff Crompton.^[55] The Kings used the pick to draft Kenny Dennard.

College underclassmen

The following college basketball players successfully applied for early draft entrance.^[79]