Founded in 1916 by the Congregation of Christian Brothers, Iona Preparatory School is a National School of Excellence for boys in grades 9-12. The basketball program consists of four teams, including freshman, junior varsity, varsity B, and varsity A.

The student-athletes and their coaches are dedicated to the teaching and learning of fundamental basketball with special emphases on ball handling, defense, execution, fitness, passing, rebounding, shooting, and speed. Importantly, community service, discipline, hard work, leadership development, maturation, sacrifice, and teamwork are integral parts of the program.

Proudly, Iona Prep is a member of the Catholic High Schools' Athletic Association (CHSAA) of New York, Queens, Brooklyn, and Westchester. CHSAA-member schools are well-known nationally for both academic excellence and athletic achievement. NBA players such as Kenny Anderson (Molloy High School and Georgia Tech), Kareem Abdul Jabbar (Power Memorial High School and UCLA), and Jamal Mashburn (Cardinal Hayes High School and the University of Kentucky) once played in the CHSAA. Former Iona Prep standouts who went on to play NCAA Division-I basketball include Justin Jackette '98 (Manhattan College) and Nick Delfico '99 (Fairfield University).

Iona is a member of the CHSAA A Division. As such, it plays against great rivals such as Archbishop Stepinac High School, Cardinal Hayes High School, Fordham Prep, LaSalle Academy, and Mount Saint Michael Academy. Non-league games against national and New York State powerhouses such as Grady High School, McQuaid Jesuit High School, New Rochelle High School, Oak Hill Academy, and White Plains High School are also on the schedule periodically. The Iona Prep varsity A team won the CHSAA A Division championship in 1998 and 2002.

The Iona basketball teams practice and play in two on-campus facilities: the Tully and Heffernan gyms. In addition, there is a state-of-the-art track and a superb weight room on campus. Student-athletes can also take part in an off-season basketball program that consists of speed and weight training.

Approximately 50 student-athletes play basketball at Iona Prep each year. They come from many different Catholic, private, and public schools. The basketball program is supported well by an athletic director, three assistant athletic directors, four head coaches, four assistant coaches, a director of operations, a full-time trainer, and the facilities management staff.