• ^{a 1 2} On the draft-day, the Seattle SuperSonics acquired a first-round pick from the Cleveland Cavaliers in exchange for Dick Snyder and a first-round pick.^[30] The Sonics used the pick to draft Tommy Burleson. The Cavaliers used the pick to draft Campy Russell.
• ^b On May 20, 1974, the Atlanta Hawks acquired Bob Kauffman, Dean Meminger, the tenth pick, a 1975 first-round pick, 1975 and 1976 second-round picks, and a 1980 third-round pick from the New Orleans Jazz in exchange for Pete Maravich.^[31] The Hawks used the pick to draft Mike Sojourner.
• ^c On the draft-day, the Chicago Bulls acquired a first-round pick from the New York Knicks in exchange for Howard Porter and a 1975 second-round pick.^[32] The Bulls used the pick to draft Maurice Lucas.
• ^d On August 31, 1972, the Los Angeles Lakers acquired a second-round pick from the Cleveland Cavaliers in exchange for Jim Cleamons.^[33] The Lakers used the pick to draft Billy Knight.
• ^e On August 23, 1973, the Washington Bullets (as the Capital Bullets) acquired a second-round pick from the Los Angeles Lakers in exchange for Stan Love.^[34] Previously, the Lakers acquired the pick on September 19, 1972, from the Phoenix Suns in exchange for Paul Stovall.^[35] The Bullets used the pick to draft Truck Robinson.
• ^f On September 10, 1973, the Chicago Bulls acquired John Hummer and a second-round pick from the Buffalo Braves in exchange for Gar Heard, Kevin Kunnert and a 1975 second-round pick.^[36] The Bulls used the pick to draft Leon Benbow.
• ^g On October 30, 1973, the Phoenix Suns acquired Keith Erickson and a second-round pick from the Los Angeles Lakers in exchange for Connie Hawkins.^[37] The Suns used the pick to draft Fred Saunders.
• ^h On October 14, 1973, the Portland Trail Blazers acquired a second-round pick from the Chicago Bulls in exchange for Rick Adelman.^[38] The Blazers used the pick to draft Phil Lumpkin.
• ⁱ On September 11, 1972, the Portland Trail Blazers acquired a second-round pick from the Philadelphia 76ers as compensation for the signing of Gary Gregor as a free agent.^[39] Previously, the 76ers acquired the pick and future consideration (the 76ers acquired John Block on July 28, 1972) on December 13, 1971, from the Milwaukee Bucks in exchange for Wali Jones.^[35] The Blazers used the pick to draft Rubin Collins.
• ^j On October 24, 1972, the Cleveland Cavaliers acquired a third-round pick from the Portland Trail Blazers in exchange for Charlie Davis.^[40] The Cavaliers used the pick to draft Foots Walker.
• ^k On January 26, 1973, the Philadelphia 76ers acquired Tom Van Arsdale and a third-round pick from the Kansas City-Omaha Kings in exchange for John Block.^[41] The 76ers used the pick to draft Harvey Catchings.
• ^l On October 9, 1973, the Phoenix Suns acquired 1974 and 1975 third-round picks from the Washington Bullets (as the Capital Bullets) in exchange for Walt Wesley.^[42] The Suns used the pick to draft Earl Williams.

For the fourth year in a row, the NBA would implement the hardship exception for college underclassmen to enter the NBA draft. This season had 20 different players initially declare their entry into this year's draft, but eight of these players in the University of Oklahoma's Alvan Adams, UNLV's Jimmie Baker, the University of Utah's Luther Burden, the University of West Florida's David Mitchell Jr., St. John's Mel Utley, Southeastern Community College's Michael Washington, Jacksonville University's Henry Williams, and Austin Peay State University's James Williams would all later skip out on official entry into this year's draft. The following college basketball players successfully applied for an NBA hardship.^[43]

• List of first overall NBA draft picks