| Team | Player | Position | School |
| L.A. Clippers | Michael Olowokandi | Center | Pacific |
| Vancouver | Mike Bibby | Point Guard | Arizona |
| Denver | Raef LaFrentz | Power Forward | Kansas |
| Toronto | Antwan Jamison | Small Forward | North Carolina |
| Golden State | Vince Carter | Shooting Guard | North Carolina |
| Dallas | Robert Traylor | Power Forward | Michigan |
| Sacramento | Jason Williams | Point Guard | Flordia |
| Philadelphia | Larry Hughes | Guard/Forward | St. Louis |
| Milwaukee | Dirk Nowitzki | Forward | DJK (Germany) |
| Boston | Paul Pierce | Small Forward | Kansas |
| Detroit | Bonzi Wells | Guard | Ball State |
| Orlando | Michael Doleac | Center | Utah |
| Orlando (from Washington) |
Keon Clark | Center | Nevada-Las Vegas |
| Houston | Michael Dickerson | Forward | Arizona |
| Orlando (from New Jersey) |
Matt Harpring | Forward | Georgia Tech |
| Houston (from Toronto via New York) |
Bryce Drew | Point Guard | Valparaiso |
| Minnesota | Radoslav Nesterovic | Center | Sloveina |
| Houston (from Toronto via Portland) |
Mirsad Turkcan | Forward | Turkey |
| Milwaukee (from Cleveland) |
Pat Garrity | Forward | Notre Dame |
| Atlanta | Roshown McLeod | Forward | Duke |
| Charlotte | Ricky Davis | Forward | Iowa |
| L.A. Clippers (from Miami) |
Brian Skinner | Center | Baylor |
| Denver (from Phoenix) |
Tyronn Lue | Guard | Nebraska |
| San Antonio | Felipe Lopez | Guard | St. Johns |
| Indiana | Al Harrington | Forward | St.Patricks(H.S.) |
| L.A. Lakers | Sam Jacobson | Forward | Minnesota |
| Seattle | Vladmir Stepania | Center | Slovenia |
| Chicago | Cory Benjamin | Guard | Oregon State |
| Utah | Nazr Mohammed | Center | Kentucky |
Note: Antwan Jamison was traded to the Golden State Warriors for Vince Carter, Carter was traded to the Toronto Raptors for Jamison