Objective To quantify the incidence rate of anterior cruciate ligament (ACL) injuries and ankle sprains according to player sex, playing level, and exposure setting (training vs. games) in basketball players. Methods PubMed, MEDLINE, Google Scholar, and ScienceDirect were searched. Only studies reporting the number of ACL injuries and/or ankle sprains alongside the number of athlete‐exposures (training sessions and/or games) in basketball players were included. Results Thirty studies (17 reporting ACL injuries and 16 reporting ankle sprains) were included in the meta‐analysis. Higher (p < 0.05) ACL injury incidence rates per 1000 athlete‐exposures were recorded in females (female: 0.20 95% confidence intervals [0.16–0.25]; male: 0.07 [0.05–0.08]; female‐to‐male ratio: 3.33 [3.10–3.57]), in players competing at higher playing levels (amateur: 0.06 [0.04–0.09]; intermediate: 0.16 [0.13–0.20]; elite: 0.25 [0.14–0.64]), and in games (games: female, 0.27 [0.21–0.32]; male, 0.06 [0.03–0.08]; training: female, 0.03 [0.02–0.05]; male: 0.01 [0.00–0.02]; game‐to‐training ratio: 7.90 [4.88–12.91]). Higher (p < 0.05) ankle sprain incidence rates per 1000 athlete‐exposures were observed in males (female: 0.82 [0.61–1.03]; male: 0.90 [0.61–1.19]; female‐to‐male ratio: 0.91 [0.83–0.99]), in players competing at higher playing levels (amateur: 0.54 [0.51–0.57]; intermediate: 1.12 [1.00–1.24]; elite: 1.87 [1.29–2.46]), and in games (games: 2.51 [1.85–3.16]; training: 0.80 [0.52–0.80]; game‐to‐training ratio: 2.77 [2.35–3.26]). Conclusion According to player sex, ACL injury incidence rate is higher in females, while ankle sprain incidence rate is greater in males. ACL injury and ankle sprain incidence rates are greater in players competing at higher playing levels and during games compared to training.