| Transactions |
| Date | Player | Notes |
| 01/22/2002 | Kenny Thomas | League Suspension 3 games, $15,000 for 1/21 altercation |
| 12/14/2001 | Maurice Taylor | League Suspension 5 games for violating Anti-Drug Program |
| 10/25/2001 | Damon Jones | Waived |
| 10/25/2001 | Darren Kelly | Waived |
| 10/25/2001 | Ike Nwankwo | Waived |
| 10/22/2001 | Kevin Willis | Traded for 2nd-Round pick in 2002 draftFrom Bucks To Rockets |
| 10/09/2001 | Moochie Norris | Re-Signed Six year contract - $22.7 million |
| 10/01/2001 | Damon Jones | Signed as Free Agent |
| 09/29/2001 | Marc Jackson | Signed as Free Agent Signed to an offer sheet |
| 09/19/2001 | Eddie Griffin | Signed as Draft Pick Three-year contract |
| 09/07/2001 | Terence Morris | Signed as Draft Pick Multi-year contract |
| 08/10/2001 | Kyle Hill | Traded Three team deal with New York and DallasFrom Mavericks To Rockets |
| 08/10/2001 | Shandon Anderson | Traded Three-team deal with Houston and DallasFrom Rockets To Knicks |
| 08/10/2001 | Glen Rice | Traded Three-team deal with New York and DallasFrom Knicks To Rockets |
| 08/07/2001 | Maurice Taylor | Re-Signed |
| 08/07/2001 | Carlos Rogers | Rights renounced by team |
| 08/02/2001 | Hakeem Olajuwon | Traded For 2001 1st and 2nd round picksFrom Rockets To Raptors |
| 06/27/2001 | Terence Morris | Traded Traded rights for future 1st-round pickFrom Hawks To Rockets |
| 06/27/2001 | Eddie Griffin | Traded Rights traded in four-player dealFrom Nets To Rockets |
| 06/27/2001 | Richard Jefferson | Traded Rights traded in four-player dealFrom Rockets To Nets |
| 06/27/2001 | Jason Collins | Traded Rights traded in four-player dealFrom Rockets To Nets |
| 06/27/2001 | Brandon Armstrong | Traded Rights traded in four-player dealFrom Rockets To Nets |
