The Three Point Contest is a National Basketball Association All-Star Game competition held on the Saturday before the All-Star Game. Competitors try to score as many points as possible in one minute. There are five ball racks laid out over the three point arc: one on each baseline, one halfway between the baseline and the top of the arc on each side, and one at the top of the arc.

Each rack has five balls, four of which are worth one point and one is worth two points. The two point ball is the final ball on the rack. The first four balls are standard NBA balls, orange in color. The sixth ball (also 'the money ball') is red, white and blue. That makes the best possible score to be 30 points.

In the first round each contestant has one chance to score as many points as possible. The three with the top three scores advance to the finals. Typically, six players take part in the contest. The finals round is played in the same way as the qualifying round.

Larry Bird and Craig Hodges have both won three straight times.