The 1954-55 ETSU basketball team finished the season with a 29-5 record on their way to the university's first ever National Championship. The Lions were coached by Lion Hall of Fame coach Bob Rogers and were headlined by Lion Hall of Fame players Jim Miller, Clarence Lynch, Shelby Metcalf and Jerry Matthews.

The Lions' record 29-wins stands as the program's best mark. The Lions started the season with a five-game winning streak, defeating Louisiana Tech twice and with wins over Howard Payne, Central Oklahoma and Southern Mississippi. After losing two games in a row, the Lions would go on to win nine of their next 10 games and won 18 of their final 21 games of the season in the regular season, including four games in a row to end the regular season. The Lions finished the regular season with a 23-5 record and a 9-3 record in the Lone Star Conference, good enough to earn the Lions their 10th LSC Championship in program history.

The Lions went on to win six more games in a row in the post season, beginning with a 78-52 win over Texa Wesleyan to win the NAIA District Four championship and advance to the NAIA Tournament. The Lions met Portland State in the first round and won 68-55. Up next was Southwestern College, whom the Lions devoured 94-78. The Lions went on to beat Beloit 66-57 in the third round and met Arkansas Tech in the semifinal round, winning 81-66. In the championship game, the Lions took on Southeastern Oklahoma and the contest quickly got out of hand, with the Lions running away with a 71-54 victory on their way to the championship.

Jim Miller was named a First Team All-American by the NAIA while Clarence Lynch and Shelby Metcalf took home Second Team All-America honors from the NAIA. Miller and Lynch took home First Team All-Conference honors.