- For the American football player, see Derek Anderson (football player).
Anderson is a graduate of Doss High School and was a Kentucky all-star. Anderson played college basketball at Ohio State University and the University of Kentucky. In 1996, Anderson helped Kentucky win the NCAA championship, a team that featured seven future NBA players. Anderson went on to graduate from the University of Kentucky in 1997.
He was first selected by the Cleveland Cavaliers as the 13th overall pick to the 1997 NBA Draft, despite missing much of his second senior season at Kentucky due to a torn anterior cruciate ligament (ACL). He played for Cleveland from 1997–1999.
Anderson's NBA career has been plagued by injuries. In the 2004-5 season he only played in 8 of the final 42 games for the Portland Trail Blazers, and missed similar numbers of games in prior seasons. On August 3 2005 he was waived by the Trail Blazers using the so-called "tax amnesty clause" of the NBA collective bargaining agreement.
Derek Anderson has a daughter, DeAsia, and three sons, Derek Jr., Ashden and Darien.
- Anderson was ranked 7th in the NBA in free throw percentage (.877) in 1999-2000. 
- Anderson was the first player to be cut using the tax amnesty clause in the 2005 NBA collective bargaining agreement.
- Questions about state hall of fame selection process, Bob Watkins, The Spencer Magnet