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Transactions listed are from July 1, 1955 to
June 30, 1956.
- September 30, 1955
The Fort Wayne Pistons traded Monk Meineke to the Rochester Royals for Odie Spears.
- October 25, 1955
The Rochester Royals signed Connie Simmons as a free agent.
- October 26, 1955
The Rochester Royals sold Arnie Risen to the Boston Celtics.
- November 28, 1955
The Minneapolis Lakers sold Jim Holstein to the Fort Wayne Pistons.
- December 3, 1955
The Philadelphia Warriors sold Bob Schafer to the St. Louis Hawks.
- December 16, 1955
The Fort Wayne Pistons sold Johnny Horan to the Minneapolis Lakers.
The Fort Wayne Pistons signed Alex Hannum as a free agent.
- January ?, 1956
The St. Louis Hawks released Chuck Cooper.
The Fort Wayne Pistons signed Chuck Cooper as a free agent.
- January 27, 1956
Joe Lapchick resigns as Head Coach for New York Knicks.
- February 9, 1956
The New York Knicks hired Vince Boryla as Head Coach.
- April 30, 1956
The Boston Celtics traded Cliff Hagan and Ed Macauley to the St. Louis Hawks for Bill Russell.
The New York Knicks traded Gene Shue to the Fort Wayne Pistons for Ron Sobie.