Chancellor played two years of basketball at East Central Junior College in Decatur, Mississippi, before transferring to Mississippi State University, where he earned a bachelor's degree in mathematics & physical education in 1965. During his senior year at Mississippi State, he served as head coach of the boys' basketball team at Noxapater High School. Chancellor went on to coach boys' and girls' basketball at Horn Lake High School and Harrison Central High School in Mississippi. He received his master's degree in physical education from the University of Mississippi in 1973.
University of Mississippi
Chancellor spent 19 seasons as the head coach of the University of Mississippi Rebels, compiling an overall record of 439-154. As the Ole Miss head coach, Chancellor guided the Rebels to the NCAA Tournament 14 times, including 11 consecutive appearances from 1982 to 1992. Chancellor's teams won at least 20 games 15 times, including a school-record 31 wins in 1978–1979. He also led the Rebels to top 20 final rankings 13 times, with top 10 finishes four times. Chancellor led Ole Miss to the Elite Eight at the NCAA Tournament four times, while his teams made the Sweet 16 on three other occasions. Chancellor was named the Southeastern ConferenceCoach of the Year three times, including the 1992 season when the Rebels were 29-3 overall and claimed the SEC regular season title with a perfect 11-0 mark. He was also named the 1992 National Women's Basketball Coach of the Year by the Women's Basketball News Service.
Chancellor served for 10 years as head coach of the Houston Comets from 1997–2006. During that time, Chancellor was named the WNBA Coach of the Year three times and he led the Comets to the league's first four titles. Under Chancellor, the Comets were the only team in the WNBA to make the playoffs in each of the first seven seasons of the league. His 1998 Houston Comets team holds the record for highest winning percentage in the history of both the NBA and WNBA basketball. In 10 years with the Houston Comets, Chancellors’ teams posted a 211-111 record, making him the winningest coach in the history of the WNBA. He coached the Western Conference All-Star Team three times during his career and was named the coach of the WNBA's All-Decade Team in June 2006. During his time as head coach of the Comets, Chancellor also served as a television analyst for women's college basketball, working for both ESPN and SEC-TV.
USA Basketball
Chancellor has recorded an unblemished 38-0 record in international competition as head coach of the United States National Team. His teams won first place at the 2002 Opals World Challenge, a gold medal at the 2002 FIBA World Championships, and a gold medal at the 2004 Summer Olympics. Chancellor served as the head coach to the National team in the 2002 World Championships, held during September in three cities in China, including Nanjing, China. The USA won the opening six preliminary rounds easily, with no contest closer than 30 points. That included the opening round game against Russia, who has played them close at the 1998 Championship final. In the opening game, the USA won 89–55 behind 20 points form Lisa Leslie and 17 from Sheryl Swoopes. The USA wasn't seriously challenged in the quarterfinals, where they beat Spain by 39 points. The semifinal game against Australia was closer, but Leslie had a double-double with 24 points and 13 rebounds to help the USA team win by 15 points. In the championship game, much like the 1998 finals, the rematch was much closer. This time the USA team did not have to play form behind, and had a ten-point lead late ant he game, but the Russians cut the lead to a single point with just over three minutes remaining. The game remained close, and was within three points with just over twelve seconds to go, but Swoopes was fouled and sank the free throws to give the USA a 79–74 win and the gold medal.
LSU Lady Tigers
In his first year as head coach at LSU, Chancellor led the Lady Tigers to an SEC championship game and to the Final Four. He was also named 2008 SEC Coach of the Year. Chancellor resigned on March 16, 2011. He spent the rest of his contract as an assistant to Athletic Director Joe Alleva. Chancellor spent four seasons at LSU.