| First Round | Player | College |
| 1. San Antonio | David Robinson | Navy |
| 2. Phoenix | Armon Gilliam | Nevada-Las Vegas |
| 3. New Jersey | Dennis Hopson | Ohio State |
| 4. LA Clippers | Reggie Williams | Georgetown |
| 5. Seattle (from New York) (1) | Scottie Pippen | Central Arkansas |
| 6. Sacramento | Kenny Smith | North Carolina |
| 7. Cleveland | Kevin Johnson | California |
| 8. Chicago (from Denver) (1) | Olden Polynice | Virginia |
| 9. Seattle | Derrick McKey | Alabama |
| 10. Chicago | Horace Grant | Clemson |
| 11. Indiana | Reggie Miller | UCLA |
| 12. Washington | Tyrone Bogues | Wake Forest |
| 13. LA Clippers (from Houston) | Joe Wolf | North Carolina |
| 14. Golden State | Tellis Frank | Western Kentucky |
| 15. Utah | Jose Ortiz | Oregon State |
| 16. Philadelphia | Christian Welp | Washington |
| 17. Portland | Ronnie Murphy | Jacksonville |
| 18. New York (from Milwaukee) | Mark Jackson | St. John's |
| 19. LA Clippers (from Detroit) | Ken Norman | Illinois |
| 20. Dallas | Jim Farmer | Alabama |
| 21. Atlanta | Dallas Comegys | DePaul |
| 22. Boston | Reggie Lewis | Northeastern |
| 23. San Antonio (from LA Lakers) | Greg Anderson | Houston |
Notes:
(1) Seattle traded draft rights to Scottie Pippen to Chicago for draft rights to Olden Polynice, a 1988 or 1989 second-round draft choice and the option to exchange 1988 or 1989 first-round draft choices.
