The single-elimination tournament features 68 teams all fighting for the chance to be crowned national champions. Since the tournament began in 1939, UCLA has the most titles with 11. Kentucky follows with eight national titles while North Carolina has six. You can check out the full tournament history here.
So who will take the title this year?
Selection Sunday will take place on March 11 this year, when the NCAA Division I Men's Basketball Committee reveals which 68 teams have made the field for that year's basketball championships. Check out everything you need to know about how the teams are selected here.
In the end, it's guaranteed we'll see another One Shining Moment from the last team standing. Watch last year's video here.