Ray James Woods (February 2, 1895 – October 1965) was an American college basketball standout for Illinois in the 1910s. A guard, Woods helped lead the Fighting Illini to two Big Ten Conference championships in 1915 and 1917, with the former being an undefeated 16–0 season that resulted in a retroactive national championship. In all three seasons he played at the school, Woods was named an All-American and was honored as the Helms Foundation National Player of the Year as a senior in 1916–17. He was Illinois' first-ever All-American in basketball and teamed up with his brother, Ralf (a forward), in guiding the school to their first era of basketball dominance.

• 1917 - Helms National Player of the Year
• 1915, 1916, 1917 - First Team All-American
• 1915, 1916, 1917 - First-team All-Big Ten
• 2004 - Elected to the "Illini Men's Basketball All-Century Team"
• September 13, 2008 - Honored as one of the thirty-three honored jerseys which hang in the State Farm Center to show regard for being the most decorated basketball players in the University of Illinois' history.