‡ – Big 12 Conference regular season champions, and tournament No. 1 seed. # – Received a single-bye in the conference tournament. Overall records include all games played in the Big 12 Conference tournament.[1]
†Baylor removed itself from postseason play, including the conference tournament, before the 2003–04 season due to the Baylor University basketball scandal. Because of this, Texas Tech got a bye in the first round of the tournament. This would be the first time in the history of the tournament that all the conference's member teams did not participate; it would not happen again until 2022, when Oklahoma State did not participate in the tournament due to an NCAA-imposed postseason ban.