| Prevseason: | 1996 |
| Nextseason: | 1998 |
| Liga Sudamericana de Básquetbol | |
| Season: | 1997 |
| Champions: |  Atenas |
| Runners Up: |  Corinthians |
| Semifinalists: | Olimpia Cougar Franca |
| Teams: | 15 |
| Dates: | 18 February – 9 May 1997 |
The 1997 Liga Sudamericana de Básquetbol, or 1997 FIBA South American League, was the second edition of the second-tier tournament for professional basketball clubs from South America. The tournament began on 18 February 1997 and finished on 9 May 1997. Argentine club Atenas won the tournament, defeating Brazilian club Corinthians in the Grand Finals.
Teams were split into three groups of four teams each and one group of three teams, and played each other in a home-and-away round-robin format. The top two teams from each group advanced to the final stage, a best-of-three direct playoff elimination where the champion was decided.
| Country | Team | |
|---|---|---|
| | Andino Sport Club | |
| Atenas | ||
| Olimpia | ||
 | Ingavi de La Paz | |
| | Corinthians | |
| Cougar Franca | ||
| Corinthians de Santa Cruz do Sul | ||
| Español de Talca | ||
| Deportivo Petrox | ||
 | Paisas de Medellín | |
| Piratas de Bogotá | ||
| Sol de América | ||
 | Deportivo SIPESA | |
| Regatas Lima | ||
 |
Corinthians: Luiz Augusto Zanon, Robyn Davis, Oscar Schmidt, Brasilia, Caio Silveira. Coach: Zé Boquinha
Season MVP: Greg Dennis