1948–49 Baltimore Bullets season
The 1948–49 BAA season was the Bullets' 2nd season in the NBA/BAA and their fifth overall season including the time they spent in the American Basketball League. Entering this season, the Bullets sought to officially acquire their third professional league championship in four seasons when combining their results from both the ABL and the BAA. Despite entering this season as defending champions, the Bullets would end their second season in the BAA with a losing record of 29–31, though it was still good enough for a third place spot in the Eastern Division semifinal round. When entering the final playoffs ever holding the BAA's name, the Bullets ended up getting eliminated by the New York Knickerbockers 2–1 in the first round of what later ended up becoming the Bullets' second-to-last playoff appearance in league history, as well as their first of many seasons where they would end up having losing seasons going forward with their existence after previously being considered champions of both the ABL and BAA before the BAA would merge with the NBL to become the modern-day NBA.
Draft picks
| Round | Pick | Player | Position | Nationality | College |
| 1 | 6 | Walt Budko | F/C |  United StatesPlayoffsEast Division SemifinalsNew York Knicks vs. Baltimore Bullets: Knicks win series 2-1
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