In the 1954–1955 season, the North Carolina Tar Heels men's basketball team competed in a total of twenty-one games and finished with a record of 10–11. The team finished the season in sixth place in the Atlantic Coast Conference.

December 4 Clemson H W 99–66
December 9 South Carolina H W 88–69
December 11 William & Mary A L 76–79
December 18 Maryland H L 60–70
Dixie Classic
December 27 USC (-/13) RAL W 67–58
December 28 NC State (-/2) RAL L 44–47
December 29 Duke (-/18) RAL W 65–52
January 3 LSU A L 77–84
January 4 Alabama (-/13) A L 55–77
January 8 Wake Forest H W 95–78
January 11 Virginia H W 96–87
January 14 South Carolina A W 73–64
January 15 Clemson A W 95–87
January 18 NC State (-/2) A W 84–80
February 4 Duke H L 68–91
February 11 Virginia GR L 73–98
February 12 Maryland (-/11) A L 61–63
February 16 Wake Forest A W 83–79
February 22 NC State (-/6) H L 75–79
February 25 Duke A L 74–96
ACC Tournament
March 3 Wake Forest RAL L 82–95