Carolina has played 160 games in the NCAA tournament. The Tar Heels have appeared in the NCAA Tournament Championship Game 11 times, and have been in a record 20 NCAA Tournament Final Fours.[10] The Tar Heels have made it into the NCAA tournament 50 times (second-most all-time),[11][12] and have amassed 123 victories (second most all-time).[11][12] North Carolina also won the National Invitation Tournament in 1971,[3] and appeared in two NIT Finals with six appearances in the NIT Tournament.[3] Additionally, the team has been the number one seed in the NCAA Tournament 17 times, the latest being in 2019 (most #1 seeds all-time).

The team played in the Bynum Gymnasium, a venue known for its unusual running track suspended above the court.[24] Play moved to the Tin Can during the 1924 season, until the team's relocation to the Woollen Gymnasium in 1938.[25][26] Rudimentarily built of steel, attempts to heat the Tin Can during early season at first failed, with ice often forming inside:

North Carolina is still alive in the recruitment for five-star shooting guard Bryce Thompson, one of the top uncommitted recruits in the 2020 class. The Tulsa, Oklahoma native cut his list down to seven teams in August. On Sunday, Thompson cut his list one more time as he trimmed it down to four finalists: UNC, Kansas, Oklahoma State, and Oklahoma. (Keeping It Heel)
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