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This is a list of notable events in music that took place in the year 1923.

The following songs achieved the highest positions in Joel Whitburn's Pop Memories 1890-1954 and record sales reported on the "Discography of American Historical Recordings" website during 1923.[3] Numerical rankings are approximate; they are only used as a frame of reference.
| Rank | Artist | Title | Label | Recorded | Released | Chart Positions |
|---|---|---|---|---|---|---|
| 1 | Paul Whiteman and His Orchestra | "Parade of the Wooden Soldiers"[4] | Victor 19007 | October 21, 1921 | April 7, 1923 | US Billboard 1923 No. 1, US No. 1 for 7 weeks, 13 total weeks, 722,895 sold (Victor 1920s memo)[5] |
| 2 | Isham Jones Orchestra | "Swingin' Down the Lane"[6] | Brunswick 2438 | May 4, 1923 | July 1923 | US Billboard 1923 No. 2, US No. 1 for 6 weeks, 15 total weeks |
| 3 | Billy Murray & Ed Smalle | "That Old Gang of Mine"[7] | Victor 19095 | June 5, 1923 | September 1923 | US Billboard 1922 No. 3, US No. 1 for 6 weeks, 14 total weeks |
| 4 | Billy Jones | "Yes! We Have No Bananas"[8] | Edison 51183 | June 8, 1923 | July 1923 | US Billboard 1923 No. 4, US No. 1 for 5 weeks, 13 total weeks |
| 5 | Bessie Smith | "Down Hearted Blues"[9] | Columbia 3844 | February 16, 1923 | May 1923 | US Billboard 1923 No. 5, US No. 1 for 4 weeks, 12 total weeks, 1,000,000 sold[10] |
| 6 | Al Jolson | "Toot, Toot, Tootsie (Goo' Bye!)"[11] | Columbia 3705 | September 11, 1922 | December 1922 | US Billboard 1922 No. 6, US No. 1 for 4 weeks, 10 total weeks |
| 7 | Van and Schenck | "Carolina in the Morning"[12] | Columbia 3712 | September 18, 1922 | December 1922 | US Billboard 1922 No. 7, US No. 1 for 3 weeks, 14 total weeks |
| 8 | Carl Fenton and His Orchestra | "Love Sends a Little Gift of Roses"[6] | Brunswick 2392 | January 15, 1923 | March 1923 | US Billboard 1923 No. 8, US No. 1 for 3 weeks, 10 total weeks |
| 9 | Art Landry & His Orchestra | "Dreamy Melody"[13] | Gennett 5255 | February 12, 1923 | May 1923 | US Billboard 1923 No. 9, US No. 1 for 3 weeks, 10 total weeks, 1,500,000 sales |
| 10 | Ben Selvin's Dance Orchestra | "Yes! We Have No Bananas"[14] | Vocalion 14590 | May 15, 1923 | August 1923 | US Billboard 1923 No. 10, US No. 1 for 2 weeks, 12 total weeks |
| 11 | Eddie Cantor | "No, No, Nora"[15] | Columbia 3964 | July 26, 1923 | October 1923 | US Billboard 1923 No. 11, US No. 1 for 2 weeks, 9 total weeks |
| 12 | Paul Whiteman and His Orchestra | "I'll Build a Stairway to Paradise"[16] | Victor 18949 | September 1, 1922 | November 22, 1922 | US Billboard 1923 No. 12, US No. 1 for 1 weeks, 9 total weeks |
| 13 | Paul Whiteman and His Orchestra | "Bambalina"[17] | Victor 19035 | September 1, 1922 | June 22, 1923 | US Billboard 1923 No. 13, US No. 1 for 1 weeks, 8 total weeks |
| 14 | Paul Whiteman and His Orchestra | "Crinoline Days"[18] | Victor 18983 | February 20, 1923 | March 17, 1923 | US Billboard 1923 No. 14, US No. 2 for 3 weeks, 9 total weeks |
| 15 | Eddie Cantor | "I've Got the Yes! We Have No Bananas Blues"[19] | Columbia 3964 | July 26, 1923 | October 1923 | US Billboard 1923 No. 15, US No. 2 for 3 weeks, 6 total weeks |
| 22 | Isham Jones Orchestra | "Who's Sorry Now" | Brunswick 2438 | May 4, 1923 | July 1923 | US Billboard 1923 No. 22, US No. 3 for 1 weeks, 8 total weeks |
| 25 | Great White Way Orchestra (vocal Billy Murray) | "Yes! We have No Bananas" | Victor 19068 | April 26, 1923 | July 1923 | US Billboard 1923 No. 25, US No. 3 for 1 weeks, 6 total weeks, 610,101 sales (Victor 1920s memo)[5] |
| 28 | Paul Whiteman and His Orchestra | "Wonderful One" | Victor 19019 | January 25, 1923 | April 1923 | US Billboard 1923 No. 28, US No. 3 for 1 weeks, 5 total weeks, 800,005 sold (Victor 1920s memo)[5] |