This paper takes the students of colleges and universities in Heilongjiang Province as the research object, and investigates and studies the three-player basketball game through the methods of literature review, interview and questionnaire methods. The results show that the three-player basketball can promote the unity and cooperation of the students in colleges and universities, cultivate the students' comprehensive practical ability in sports and the spirit of innovation. The development of three-player basketball is important and necessary in colleges and universities.