The Colts enter the 2014 NFL Draft with five picks. The Colts were not awarded any compensatory picks this year.
| Round | Pick in Round | Overall Selection |
| 2 | 27 | 59 |
| 3 | 26 | 90 |
| 5 | 26 | 166 |
| 6 | 27 | 203 |
| 7 | 17 | 232 |
PRIOR-YEAR TRADES
The Colts' first-round pick (26th overall) was traded to the Cleveland Browns in exchange for RB-Trent Richardson on September 18, 2013.
The Colts' fourth-round pick (127th overall) was traded to the Cleveland Browns in exchange for a fifth-round selection (139th overall) in the 2013 NFL Draft. The Colts selected DT-Montori Hughes with the pick.
The Colts acquired a seventh-round pick (232nd overall) in a trade with the Baltimore Ravens in exchange for C-A.Q. Shipley.
The Colts' original seventh-round pick (241st overall) was traded to the St. Louis Rams in exchange for CB-Josh Gordy on August 21, 2012.
