Born in Pittsburg, Kansas, Nealy attended Kansas State University. Although he was not expected to be a factor for the Wildcats as a freshman, he started 30 of the team's 31 games, averaging 10.2 points and team leading 8.2 rebounds per game en route to Big Eight Newcomer of the Year honors. During his sophomore season, he was a vital part in helping the team win the 1980 Big Eight Tournament Championship and reach the Elite Eight of the 1980 NCAA Tournament after averaging 9.8 points and 8.8 rebounds per game. As a junior, he averaged 11.0 points and 9.1 rebounds, helping the Wildcats reach the West Regional Finals. During his senior season, he averaged 11.3 points and 8.7 rebounds per game, and led the Wildcats to Sweet 16 of the NCAA Tournament and earned first team All-Big Eight and honorable mention All-America honors.
Professional career
After his college career ended, Nealy was selected by the Kansas City Kings in the eighth round of the 1982 NBA draft. In 10 NBA seasons with the Kings, San Antonio Spurs, Chicago Bulls, Phoenix Suns and Golden State Warriors, Nealy averaged 2.7 points and 3.3 rebounds. Nealy played two seasons in the Continental Basketball Association, averaging 9.8 points and 10.0 rebounds in 68 games. During the 1986 playoffs, he averaged 12.9 points and 15.5 rebounds for the Tampa Bay Thrillers, helping them to the CBA championship. During his last season, Nealy was a late addition to the Chicago Bulls team which won the 1993 NBA Championship, although he did not play during the playoffs. He retired following the finals.
Due to his hustle, aggressiveness and court smarts, Nealy was uniformly praised for his unselfish play and his willingness to be physical throughout his career. "It's guys like Ed who make coaching a pleasure. If you give me a reason to put him into a game, he's going to find a way to contribute." -- Phil Jackson In the book The Jordan Rules, Phil Jackson labeled Nealy his "favorite player, smartest player on the team." "With some players, a rebound hits their hand and bounces off. Nealy catches it. He has hands like Bobby Jones and Adrian Dantley. He is going to be a great pro some day. I truly mean that." -- Dean Smith