The 1954–55 Indiana Hoosiers men's basketball team represented Indiana University. Their head coach was Branch McCracken, who was in his 14th year. The team played its home games in The Fieldhouse in Bloomington, Indiana, and was a member of the Big Ten Conference. The Hoosiers finished the regular season with an overall record of 8-14 and a conference record of 5-9, finishing 6th in the Big Ten Conference. Indiana was not invited to participate in any postseason tournament.