The 2005 edition of the NBA Live Basketball series has a new graphics engine, and adds new moves and signature moves to personalize the players. Another feature is Freestyle Air, with more control of players in the air, and the option to specify 10 different freestyle configurations. You can build your team over multiple seasons, and additional management in the Dynasty Mode is introduced through rookie scouting, along with a calendar to mark all the important dates. Management is based on dynasty points. By progressing, you earn points that can be spent on training sessions, new equipment, or to send out scouts all over the world.

Different multiplayer options are offered, and events include a NBA all-star weekend with a Slam Dunk contest, a Rookie/Sophomore game and a 3-Point shootout, next to the regular game modes. You can also go freestyle anywhere in North America. The game has become quicker than the 2004 version, and the game strategies have been balanced by creating more emphasis on the mid-range jumper.