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On April 1, 2017, it was announced that McGinnis was part of the 2017 class for the Naismith Memorial Basketball Hall of Fame, alongside Tracy McGrady, Bill Self, and Rebecca Lobo. He was inducted on September 8.

McGinnis made the All-NBA First Team in his debut season with the 76ers. Teaming up with fellow ABA alumni Julius Erving and Caldwell Jones, McGinnis helped lead the Sixers to the NBA Finals in 1977. McGinnis was traded to the Denver Nuggets in 1978, and was an All-Star again that season. Hoping to boost sagging attendance in their early NBA years, the Pacers re-acquired McGinnis in a trade for a young, high-scoring forward named Alex English. However, McGinnis was only a shadow of his former self, and contributed very little during his two-year return to Indiana. Meanwhile, English went on to become one of the most prolific scorers in NBA history. This transaction is now considered among the worst trades in Pacers' history.

Two years into his professional career, McGinnis was selected by the Philadelphia 76ers as the 22nd overall pick in the second round of the 1973 NBA draft. In October 1974, the 76ers were ready to send McGinnis' draft rights to the New York Knicks with the stipulation that the latter ballclub signs him before the agreed-upon deadline. The deal fell through when he decided to stay with the Pacers and signed a two-year contract with an $85,000 buyout clause which was exercised following the 1974–75 season. Preferring to play in New York because of its financial endorsement opportunities, McGinnis sought a preliminary injunction and restraining order against the NBA on May 23, 1975 that would have permitted him to negotiate with any of the league's 18 teams. The lawsuit was dropped a week later on May 30 when he signed a six‐year $2.4 million contract with the Knicks in a challenge to the league's constitution. In his first action as new NBA commissioner on June 5, Larry O'Brien disapproved the contract and ordered the Knicks to forfeit its first selection in the 1976 NBA draft and reimburse the 76ers for all expenses relevant to the dispute. McGinnis signed a six‐year, $3.2 million guaranteed, no‐cut, no‐trade, no-option contract with the 76ers five weeks later on July 10, 1975.

McGinnis immediately became one of the marquee players of the ABA, playing a key role on the Indiana Pacers' championship teams in each of his first two seasons with his hometown franchise. He was named the ABA Playoffs MVP in 1973, averaging 23.9 points and 12.3 rebounds in 18 playoffs games to help the Pacers repeat as champs. His best season came in 1974-75, when McGinnis scored a career-high 29.8 points per game en route to ABA MVP honors. He nearly averaged a triple-double in the playoffs that year (32.3 points, 15.9 rebounds, and 8.2 assists in 18 games), but the Pacers fell short of the title, losing to Kentucky in the ABA Finals.

In the 1970–71 season at Indiana, McGinnis became the first sophomore to lead the Big Ten in scoring and rebounding. He averaged 29.9 points per game in his lone season in Bloomington earning All-American and All-Big Ten Honors in 1971.

McGinnis attended Washington High School in Indianapolis. He and teammate Steve Downing led Washington to a 31-0 record and a state championship in 1969. McGinnis set an Indiana state tournament scoring record with 148 points in his final four games. He was also named Mr. Basketball for the state of Indiana that year.

George F. McGinnis (born August 12, 1950) is an American retired professional basketball player who played 11 seasons in the American Basketball Association (ABA) and National Basketball Association (NBA). He was drafted into the ABA from Indiana University in 1971.