After working as an onion picker for a time, Basilio served in the Marine Corps from 1945 to 1947. He won 11 of 14 amateur bouts after his discharge and became a professional boxer in 1948, knocking out his first three opponents. That began a long climb to the top for Basilio.
He won the New York State welterweight championship with a 12-round decision over Billy Graham on June 6, 1953, and defended it successfully in a 12-round draw with Graham on July 25. However, world champion Kid Gavilan beat Basilio on a 15-round decision in a title fight on September 18.
Basilio finally won the world championship by knocking out Tony DeMarco in the 12th round on June 10, 1955. He lost it less than a year later, on March 14, 1956, to Johnny Saxton in a 15-round decision, then knocked Saxton out in the 9th round on September 12 to regain the title.
In his only successful defense, he knocked Saxton out in the 2nd round on February 22, 1957. Basilio then moved up in weight to win the middleweight championship with a 15-round decision over Sugar Ray Robinson on September 23, after which he resigned the welterweight title.
Robinson won a 15-round decision in their rematch on March 25, 1958. Basilio had three more middleweight championship fights. He was knocked out twice by Gene Fullmer, in 1958 and 1959, and he lost a 15-round decision to Paul Pender on April 22, 1961. Basilio announced his retirement three days later.
Basilio won 56 fights, 27 by knockout, and lost 16, 2 by knockout. He also fought seven draws.