Memphis (38-2) missed four of five attempts from the foul line in the final 1:15 of regulation before Kansas guard Mario Chalmers nailed a three-pointer with 2.1 seconds remaining to send the game into an extra period.
Kansas (37-3) registered the first six points of overtime and was never threatened thereafter.
The Jayhawks were led by sophomore forward Darrell Arthur, who hit nine-of-13 shots from floor to score 20 points along with 10 rebounds.
Chalmers, who finished with 18 points, was named the most outstanding player.
With the Jayhawks trailing by three in regulation with 10 seconds on the clock, Sherron Collins passed to Chalmers at the top of the key and the junior guard calmly sank the shot.
"I got a good look," he told reporters.
"They gave me a good pass. When it left my hand, it felt good and I was just glad it went in."
Junior guard Chris Douglas-Roberts had 22 points for Memphis, while his freshman backcourt teammate Derrick Rose finished with 18.
"We made so many plays down the stretch and got the ball into our most clutch player's hands and he delivered," Kansas coach Bill Self said of Chalmers' heroics.
- 英语文摘:Chelsea, Leicester draw, Everton-Man City postponed due to COVID-19
- 英语文摘:CBA roundup: Shanghai snaps Guangdong's 9-game winning streak, Fujian smashes Nanjing
- 英语文摘:Messi grateful for Ballon d'Or Dream Team spot
- 英语文摘:New York nurse receives COVID-19 vaccine, kicking off state inoculation
- 英语文摘:Flick's lucky hand: Paris pupil Coman securing Bayern's glory