Purpose To determine response to neoadjuvant chemotherapy and radiation therapy in patients with locally advanced rectal cancer (LARC) by using magnetic resonance (MR) apparent diffusion coefficient (ADC) histogram analysis. Materials and Methods Ninety-two patients with LARC underwent MR imaging with rectal barium before and after chemotherapy and radiation therapy (CRT). Rectal expansion with barium expanded the lumen, provided similar imaging geometry before and after CRT, and eliminated fecal matter, air, and residual fluid. T2-weighted images, the percentage change in ADC, and ADC histogram skewness and kurtosis were assessed. The histopathologic tumor regression grade (TRG) ranged from 1a (66%-99% residual tumor cells) to 3 (no residual cells). The Wilcoxon signed-rank test, the Spearman correlation test, multivariable linear regression, and one-way analysis of variance were used to determine post- and pretreatment differences and correlations between tumor size and ADC. Results Of the 92 patients, 16 (17.4%) had TRG 3, 27 (29.3%) had TRG 2b, 24 (26.1%) had TRG 2a, 14 (15.2%) had TRG 1b, and 11 (12%) had TRG 1a. Post-CRT skewness (regression coefficient = 10.9, P = .06) and percentage ADC change (regression coefficient = -0.18, P = .03) were associated with the percentage of residual tumor. Post-CRT skewness and percentage ADC change, respectively, showed negative and positive correlation with histopathologic TRG (post-CRT skewness: P = .024; percentage ADC change: P = .001). Conclusion In patients with LARC, post-CRT skewness of the ADC histogram and percentage change in ADC were useful for predicting a favorable response to neoadjuvant CRT. RSNA, 2018 Online supplemental material is available for this article.