The 1961 NBA draft was the 15th annual draft of the National Basketball Association (NBA). The draft was held on March 27, 1961, before the 1961–62 season. In this draft, nine NBA teams took turns selecting amateur U.S. college basketball players. A player who had finished his four-year college eligibility was eligible for selection. If a player left college early, he would not be eligible for selection until his college class graduated. In each round, the teams select in reverse order of their win–loss record in the previous season. Before the draft, a team could forfeit its first-round draft pick and then select any player from within a 50-mile radius of its home arena as their territorial pick. An expansion franchise, the Chicago Packers, were assigned the first pick of the first round and the last pick of each subsequent round, along with five extra picks at the end of the second round. The draft consisted of 15 rounds comprising 107 players selected.

A territorial pick was a type of special draft choice used in the Basketball Association of America (BAA) draft in 1949 and in the National Basketball Association (NBA) draft after the 1950 season, the year in which the BAA was renamed the NBA. In the draft, NBA teams took turns selecting amateur U.S. college basketball players. Territorial picks were eliminated when the draft system was revamped in 1966.