The 2006 FIBA Europe Under-20 Championship Division B was the second edition of the Division B of the FIBA Europe Under-20 Championship, the second-tier level of European Under-20 basketball. The city of Lisbon, in Portugal, hosted the tournament. Georgia won their first title.
Georgia and Macedonia were promoted to Division A.
The sixteen teams were allocated in four groups of four teams each.
The eight top teams were allocated in two groups of four teams each.
The eight bottom teams were allocated in two groups of four teams each.