In the 2008–09 season, the Tar Heels won their fifth NCAA title by defeating Michigan State in the championship of the 2009 NCAA Men's Basketball Tournament. The Tar Heels won all six of that year's tournament games by at least 12 points, for an average victory margin of 20.2 points, and only trailed for a total of 10 minutes out of 240 through the entire tournament. Wayne Ellington was named the tournament's Most Outstanding Player, the fourth Tar Heel so honored.
Greensboro Coliseum plays host to the 2020 New York Life ACC Tournament March 10-14, marking the 27th time the facility welcomes the conference tournament, and the first since 2014. Featuring all 15 ACC teams, the event begins with three first-round games on Tuesday, March 10, before concluding on Saturday, March 14 with the championship game. The entire tournament will air exclusively on the ESPN family of networks. Game times and network designations will be announced at a later date.
From the Tar Heels' first season in 1910–11 through the 2018–19 season, the program has amassed a .739 all-time winning percentage (second highest all-time), winning 2,261 games and losing 799 games in 109 seasons. The Tar Heels also have the most consecutive 20-win seasons with 31 seasons from the 1970–71 season through the 2000–2001 season. On March 2, 2010, North Carolina became the second college basketball program to reach 2,000 wins in its history. The Tar Heels are currently ranked 3rd all time in wins trailing Kentucky by 34 games and Kansas by 13 games. The Tar Heels are one of only four Division I Men's Basketball programs to have ever achieved 2,000 victories. Kentucky, Kansas, and Duke are the other three. North Carolina has averaged more wins per season played than any other program in college basketball.
In 2017-18, the Tar Heels were ranked at #9 in the Coaches poll. Forwards Isaiah Hicks, Kennedy Meeks, Tony Bradley, and Justin Jackson had left, while the team recruited Cameron Johnson. This season, the team did not earn the ACC regular season or postseason title. However, the Heels earned a #2 seed in the West of the NCAA tournament. The Tar Heels ended the season with a 26-11 record after being eliminated by Texas A&M in the round of 32 in the NCAA Tournament.
The 2011–2012 Tar Heels finished the regular season with a final record of 32-6, including a 14–2 record in ACC regular season play which allowed the team to win the conference regular season championship outright. The team fell to Florida State in the championship game of the 2012 ACC Men's Basketball Tournament. The team was a #1 seed in the Midwest Regional of the 2012 NCAA Men's Division I Basketball Tournament; the team reached the Elite Eight and was defeated by Kansas 80-67. This defeat was the second time UNC lost to Kansas in the NCAA Tournament with Roy Williams as UNC head coach. He previously coached Kansas from 1988 to 2003. The loss to Kansas was also UNC's second straight loss in the Elite Eight, after losing to Kentucky the year before. Kansas later fell to Kentucky 67-59 in the National Championship Game. Before the Kansas game, the Tar Heels won their previous three games in the NCAA Tournament by an average of 13.7 points. In the second-round game versus Creighton, starting UNC point guard Kendall Marshall broke his right wrist with 10:56 remaining in the second half with UNC leading 66-50. Marshall continued to play by dribbling primarily with his left hand, including getting fouled on a drive to the basket with 7:09 left in the second half. He left the game against Creighton with two minutes left with UNC leading 85-69. Williams announced Kendall Marshall's injury at the Creighton post-game press conference. Kendall Marshall did not play in UNC's two following games in the NCAA Tournament, a 73-65 overtime win over Ohio in the Sweet 16 and the aforementioned 67-80 loss to Kansas in the Elite Eight.
“There is always tremendous excitement surrounding ACC Basketball, and that’s no different as we look ahead to the 2019-20 season,” said ACC Commissioner John Swofford. “The league is coming off its third national championship in the last five seasons, and the collective success by our programs is second-to-none. In addition to the anticipation for the season to begin, this year also marks the debut of ACC Basketball on ACC Network which will provide our fans with even more opportunities to follow all of our programs.”
Dean Smith was widely known for his idea of "The Carolina Way," in which he challenged his players to, “Play hard, play smart, play together.” “The Carolina Way” was an idea of excellence in the classroom, as well as on the court. In Coach Smith's book, The Carolina Way, former player Scott Williams said, regarding Dean Smith, “Winning was very important at Carolina, and there was much pressure to win, but Coach cared more about our getting a sound education and turning into good citizens than he did about winning.“  "The Carolina Way" was evident in many practices the players would implement, including pointing to the player who assisted in a basket, giving him credit as an act of selflessness. This "Thank the Passer" practice is used throughout basketball today.