The 6-foot-9 forward was one vote shy of a unanimous pick Monday and was joined by senior center Roy Hibbert of Georgetown, senior guard Chris Lofton of Tennessee, senior guard Drew Neitzel of Michigan State and junior guard Darren Collison of UCLA.
The team was selected by the 72-member panel that votes in the weekly Top 25 poll.
Last year, Hansbrough's season ended with a crushing loss, one win shy of the Final Four. When he said he would return to North Carolina after being selected a second-team All-America as a sophomore, he said he wanted to "improve my game individually." Then he added, "There's also some team things that I want to accomplish."
That would mean getting the Tar Heels deeper in the NCAA tournament. North Carolina lost the regional final to Georgetown, blowing an 11-point lead in the second half and missing 22 of 23 shots during one stretch that went into overtime.
The loss denied the Tar Heels a chance at second national championship in four years. Hansbrough now wants to see what can be done this season.
"He's a unique young man who loves playing college basketball and loves being a kid and being in college and enjoys his teammates and that is extremely refreshing," North Carolina coach Roy Williams said.
"He realizes the NBA is always going to be there. It's not in any danger of folding and he is enjoying the journey. His uniqueness is refreshing, yet he is a player who is extremely focused as he has always been and how he has improved every year shows that."
Hansbrough wore a mask for four games after being hit in the face by Duke's Gerald Henderson in the closing seconds of the regular-season finale. He averaged 18.4 points and 7.9 rebounds while shooting 52.5 percent as an inside force.
Hibbert received 62 votes, one more than Lofton, while Neitzel was on 37 ballots and Collison was on 31. The next-highest vote-getter was Brandon Rush of Kansas with 23.
The 7-2 Hibbert, who would have almost certainly been a lottery pick if he entered the NBA draft, shot 67 percent while averaging 12.9 points last season as the Hoyas made the run to the Final Four. He was a real presence on defense, averaging 6.9 rebounds and 2.43 blocked shots.
Lofton, who was a second-team All-America last season, is one of the best long-range shooters in the country. He led the Southeastern Conference in scoring last season with a 20.8 average, hitting 106 3-pointers and shooting 41.9 percent from beyond the arc.
Neitzel is one of the toughest players from a program known for tough players. The 6-0 guard averaged 18.1 points and 4.3 assists and shot 41.2 percent from 3-point range last season when he was the Spartans' lone offensive weapon.
Collison has been the point guard on the Bruins' Final Four teams the last two seasons. He averaged 12.7 points and 5.7 assists as a sophomore and his improved shooting saw him hit 44.7 percent from 3-point range.
Hibbert, Lofton and Collison were all honorable mention selections after last season.
Joining Hansbrough on last season's preseason team were Joakim Noah of Florida, Ronald Steele of Alabama, Glen Davis of LSU and Rush.
The Associated Press' 2007-08 preseason All-America team, with school, height, weight, year and votes from a 72-member national media panel (key 2006-07 statistics in parentheses):
Tyler Hansbrough, North Carolina, 6-9, junior, 71 votes (18.4 ppg, 7.9 rpg, 52.5 fg pct)
Roy Hibbert, Georgetown, 7-2, senior, 62 (12.9 ppg, 6.9 rpg, 2.4 blocks, 67.0 fg pct)
Chris Lofton, Tennessee, 6-2, senior, 61 (20.8 ppg, 3.1 rpg, 1.7 apg, 47.9 fg pct, 41.9 3-pt fg pct)
Drew Neitzel, Michigan State, 6-0, senior, 37 (18.1 ppg, 2.8 rpg, 4.3 apg, 42.6 fg pct, 41.2 3-pt fg pct)
Darren Collison, UCLA, 6-0, junior, 31 (12.7 ppg, 2.3 rpg, 5.7 apg, 47.8 fg pct, 44.7 3-pt fg pct)
Others receiving votes (alphabetical): Darrell Arthur, Kansas; D.J. Augustin, Texas; Jon Brockman, Washington; Chase Budinger, Arizona; Mario Chalmers, Kansas.
Brandon Costner, North Carolina State; Joey Dorsey, Memphis; Chris Douglas-Roberts, Memphis; Eric Gordon, Indiana; Jamont Gordon, Mississippi State.
Dominic James, Marquette; Joseph Jones, Texas A&M; Brook Lopez, Stanford; Kevin Love, UCLA; O.J. Mayo, Southern California.
Derrick Rose, Memphis; Brandon Rush, Kansas; Sean Singletary, Virginia; Ronald Steele, Alabama; Kyle Weaver, Washington State; D.J. White, Indiana.