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National Champion: Kentucky
Final Four: Baylor, Holy Cross, Kansas State and Kentucky
Consensus Player of the Year: Ed Macauley
| Helms Foundation Player of the Year: | Ed Macauley (Saint Louis) |
| NCAA Tournament Most Outstanding Player: | Alex Groza (Kentucky) |
| NIT Most Valuable Player: | Ed Macauley (Saint Louis) |
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1st Team
Ed Macauley (Saint Louis) Jim McIntyre (Minnesota) Kevin O'Shea (Notre Dame) Murray Wier (Iowa) Ralph Beard (Kentucky) |
2nd Team
Alex Groza (Kentucky) Andy Wolfe (California) Arnold Ferrin (Utah) Dick Dickey (North Carolina State) Duane Klueh (Indiana State) George Kaftan (Holy Cross) Harold Haskins (Hamline) Jack Nichols (Washington) Tony Lavelli (Yale) |