CSU (22-10) will be making its fourth postseason appearance in five years, and its third NIT bid under Gary Waters.
The Vikings are a No. 6 seed and will open play at No. 3 seed Stanford (21-11) on Tuesday. Tip-off is at 11 p.m. and will be shown on ESPN2.
"I am so happy for the young men in our program because they have been given the opportunity to play in the postseason," Waters said in a written statement. "This group is very deserving of receiving a postseason bid and I thank the NIT selection committee for the honor."
Stanford, who finished seventh in the Pac-12, will be making its first postseason appearance in three years.
The winner will either play Illinois State or Ole Miss.
2012 NIT Bracket