This was the last tournament in which third-place games were contested in each regional. The national third-place game would continue to be played through the 1981 tournament.
This was also the first NCAA tournament to allow more than one team per conference. Previously, only one team from each conference was allowed. This change was response to a number of factors:
The 1971 USC Trojans were ranked #2 with their only two losses being to conference rival and #1 ranked UCLA, but were excluded from the 1971 NCAA Men's Division I Basketball Tournament due to being second place in the conference to #1 UCLA.
The new selection criteria threatened to exclude Northeastern teams, which did not belong to conferences. To address this problem, this was the first NCAA Tournament to grant automatic bids to the winners of ECAC regional tournaments for Northeastern Division I independents organized by the Eastern College Athletic Conference, a loose sports federation of Northeastern colleges and universities. This practice would continue through the 1982 tournament.
Finally, the national final was the last game for UCLA coaching legend John Wooden, who had announced his retirement at the press conference following the semi-final game with Louisville. Wooden won his tenth and final NCAA Men's Division I Basketball championship.
There were two memorable games in the 1975 tournament. Number 2 ranked Kentucky upset previously unbeaten Indiana 92-90 in their regional final. The Hoosiers, coached by Bob Knight, were undefeated and the number one team in the nation, when leading scorer Scott May suffered a broken arm in a win over arch-rival Purdue. This was the only loss Indiana would suffer between March 1974 and December 1976. In the national semifinals, UCLA defeated Louisville, coached by former Wooden assistant Denny Crum, 75-74 in overtime, rallying late in regulation to force overtime and coming from behind in overtime to win on a last second shot by Richard Washington.
Both games made USA Today's list of the greatest NCAA tournament games of all time, with the former at #8 and the latter at #18.