The 2004 WNBA season was the 5th season for the Indiana Fever. The Fever missed the playoffs due to the strong competitivity in the Eastern Conference. As of the 2010 season, this was the last season Indiana had missed the playoffs.
Based on the Fever's 2003 record, they would pick 5th in the Cleveland Rockers dispersal draft. The Fever picked Deanna Jackson.
| Round | Pick | Player | Nationality | College/School/Team | |
| 1 | 9 | Ebony Hoffman (C) | USC | ||
| 3 | 31 | Ieva Kublina (F/C) | Virginia Tech |
| Date | Opponent | Score | Result | Record | |
| May 21 | 69-67 | Win | 1-0 | ||
| May 23 | 67-68 | Loss | 1-1 | ||
| May 28 | 41-63 | Loss | 1-2 | ||
| June 1 | 79-60 | Win | 2-2 | ||
| June 5 | 70-57 | Win | 3-2 | ||
| June 9 | 79-83 | Loss | 3-3 | ||
| June 11 | 72-68 | Win | 4-3 | ||
| June 12 | 68-72 | Loss | 4-4 | ||
| June 16 | 63-50 | Win | 5-4 | ||
| June 19 | 70-65 | Win | 6-4 | ||
| June 22 | 58-63 | Loss | 6-5 | ||
| June 25 | 71-67 | Win | 7-5 | ||
| June 26 | 37-46 | Loss | 7-6 | ||
| June 29 | 69-68 | Win | 8-6 | ||
| July 1 | 64-69 | Loss | 8-7 | ||
| July 3 | 61-60 | Win | 9-7 | ||
| July 6 | 77-79 (OT) | Loss | 9-8 | ||
| July 8 | 58-56 | Win | 10-8 | ||
| July 11 | 61-65 | Loss | 10-9 | ||
| July 14 | 70-62 | Win | 11-9 | ||
| July 16 | 85-73 | Win | 12-9 | ||
| July 19 | 51-82 | Loss | 12-10 | ||
| July 22 | 54-59 | Loss | 12-11 | ||
| July 24 | 56-71 | Loss | 12-12 | ||
| July 25 | 62-71 | Loss | 12-13 | ||
| July 28 | 53-63 | Loss | 12-14 | ||
| July 31 | 54-62 | Loss | 12-15 | ||
| September 1 | 75-58 | Win | 13-15 | ||
| September 3 | 69-61 | Win | 14-15 | ||
| September 4 | 69-42 | Win | 15-15 | ||
| September 10 | 65-82 | Loss | 15-16 | ||
| September 13 | 70-76 | Loss | 15-17 | ||
| September 16 | 71-77 (OT) | Loss | 15-18 | ||
| September 19 | 60-80 | Loss | 15-19 |
| Player | GP | REB | AST | STL | BLK | PTS | |
| Tamika Catchings | 34 | 249 | 115 | 67 | 38 | 568 | |
| Natalie Williams | 34 | 235 | 62 | 40 | 23 | 349 | |
| Kelly Miller | 34 | 108 | 106 | 37 | 5 | 348 | |
| Deanna Jackson | 34 | 113 | 53 | 29 | 6 | 236 | |
| Kelly Schumacher | 32 | 104 | 25 | 10 | 31 | 224 | |
| Kristen Rasmussen | 33 | 113 | 47 | 21 | 14 | 152 | |
| Coretta Brown | 26 | 34 | 41 | 7 | 1 | 104 | |
| Stephanie White | 22 | 28 | 52 | 24 | 5 | 91 | |
| Ebony Hoffman | 30 | 87 | 21 | 15 | 5 | 60 | |
| 15 | 10 | 18 | 4 | 3 | 34 | ||
| Kate Starbird | 12 | 9 | 11 | 6 | 0 | 20 | |
| Astou Ndiaye-Diatta | 10 | 11 | 4 | 1 | 3 | 12 |