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OU women's basketball began during the 1974–75 academic year. In March 1990, Oklahoma officials released a statement saying that the women's basketball program was to be dropped, after many years of sub-par performance and low attendance. Many people voiced their complaints and eight days later, OU reinstated the program. At the time, the average attendance per game was 65 people. In 1996, Oklahoma hired former Norman High School women's basketball coach Sherri Coale to the same position at the university. The Sooner women's basketball team developed in years since to status as a leader in attendance across the nation. The Sooners averaged attendance of 6,851 in 2011–12 at home games, and the support for the sport led to Oklahoma hosting first and second-round games in the Women's NCAA Basketball Championships at Lloyd Noble Center in Norman. The Sooners also set a record on February 2, 2009, when they played host to the number 13 Tennessee Lady Volunteers, led by coach Pat Summit, who was trying to get career victory 1,000, something that no other coach had done before. The attendance for that game, which was held at the Ford Center in Oklahoma City, was close to 13,000 as well as setting a record for the most watched women's basketball game in history. The Sooners led the Big 12 conference in attendance as well. As with the men's team, they call Lloyd Noble Center home.

The program gained national prominence during the 2002 post-season when they advanced to the national title game and lost to the University of Connecticut Huskies. In the 2005–06 season, the Sooners were led by their coach Sherri Coale and the nationally known sophomore twins Courtney and Ashley Paris, daughters of former San Francisco 49ers offensive tackle Bubba Paris, to the third round of the national tournament. The team also won the Big 12 regular-season championship (with a 16–0 conference record) and the Big 12 Tournament. They became the first Big 12 women's basketball team to remain undefeated throughout conference play.

In the 2008–09 season, the Sooners made it to the Final Four of the 2009 NCAA Division I women's basketball tournament. They advanced through the Oklahoma City Regional, where they enjoyed considerable home court advantage, as Norman and Oklahoma City are separated by fewer than 20 miles.

The 2010–11 and 2011–12 seasons failed to result in regional championships and NCAA Final Four appearances. Playing through rigorous non-conference schedules and a rugged Big 12 slate, the Sooners received No. 6 seeds each of the two years. The 10–11 team advanced through the Charlottesville, Virginia, first and second round site with a win over nearby James Madison University and an upset win over the University of Miami Hurricanes. The season came to an abrupt halt in Dayton, Ohio, in the Sweet Sixteen, with the team falling to No. 2 seed Notre Dame, which steamrolled to a national championship appearance that year. The 11–12 team failed to make it past the No. 3 seed St. John's Red Storm in a 74–70 defeat in front of several thousand Sooner fans in Norman, Oklahoma. St. Johns lost in the Sweet Sixteen to the Duke Blue Devils in Fresno, California.

Oklahoma City hosted an NCAA regional in March 2013.

The 2012–13 Sooners missed graduating senior Jelena Serena, but retained the rest of the team. Adding to the corps were two National Top 20 recruits, Maddie Manning and Nicole Kornet, and Sooners Jasmine Hartman and Lyndsey Cloman rejoined the active roster. Both Hartman and Cloman sat out the entire 2011–12 season with injuries.