Introduction: An increasing number of exercise protocols replicating the specific match activity requirements of various team sports have been developed recently. To date, no such protocols have been developed specific to the demands of basketball competition. Therefore, the aim of this study was to develop a reliable and valid field test that replicates the match-specific activity demands of elite male basketball competition. Methods: Fourteen male basketball players (mean ± SEM, age: 24.9 ± 2.3 yr; stature: 187.8 ± 2.8 cm; body mass: 88.8 ± 3.2 kg; body fat: 18.1 ± 2.2%) from state- (n = 6) and regional-level (n = 8) Australian competitions volunteered to participate. The Basketball Exercise Simulation Test (BEST) was developed from match activity data recorded for elite adult male basketball players using time-motion analysis techniques. The BEST was constructed following a circuit-based design contained within one-half of a standard basketball court. All participants completed a repeat-sprint protocol, Yo-Yo Intermittent Recovery Test (Yo-Yo IRT) and 12-min BEST trial. Nine participants completed a further BEST trial at least 7 days later. Measures taken across the BEST included mean sprint and circuit time(s), sprint and circuit decrement (%) and total distance covered (m). Reliability of the BEST was calculated using the intra-class correlation coefficient (ICC), typical error of measurement, coefficient of variation (CV) and 95% confidence intervals (CI) across the test-retest trials. Criterion validity was determined using Pearson Correlation analysis between each BEST measure and performance in the repeat-sprint protocol and Yo-Yo IRT. Results: Test-retest reliability analysis revealed that mean sprint and circuit time and sprint and circuit decrement possessed high ICCs (0.92–0.99), while all measures exhibited low CVs (<5%) with the exception of sprint decrement (14.6%) and circuit decrement (16.8%). Criterion validity assessment showed significant (p < 0.01) relationships between various BEST measures (mean sprint time, sprint decrement, mean circuit time and circuit decrement) and repeat-sprint performance (r = 0.80–0.92), as well as Yo-Yo IRT distance (r = ±0.71–0.85). Discussion: The present results suggest that the BEST is a reliable field-based test that simulates the activity demands of adult male basketball competition. Furthermore, the criterion validity of the BEST was supported relative to repeat-sprint and intermittent-style fitness tests typically used within the sport. As such, the BEST may be reliably and validly used by basketball coaching and training staff in player assessment, conditioning, and within applied research projects.