The Toyota Tacoma got a makeover for 2001, including a new front fascia, taillights, and headlights. Toyota also added two new Tacomas to the lineup, the S Runner and the Double Cab. The interior was also improved, with a smattering of cosmetic changes and improvements to the seats, including improved lumbar support in the optional bucket seats and a 60/40 split rear seat in the extended cabs.

The 2001 Toyota Tacoma came in a wide variety of trims, which included the Regular Cab 4WD, Xtracab 4WD, Xtracab V6 4WD, Double Cab V6 4WD, Regular Cab 2WD, PreRunner Regular Cab 2WD, Xtracab 2WD, PreRunner Xtracab 2WD, S-Runner Xtracab V6 2WD, PreRunner, Double Cab 2WD, PreRunner Xtracab V6 2WD, and the PreRunner Double Cab V6 2WD .The new Double Cab models offered four doors instead of two, and extra room in the extended cab. The S Runner was the sporty model, offering sport-tuned suspension.

Drivers like the 2001 Toyota Tacoma because it is small and basic, but still suits their needs when something needs to be hauled or towed. Owners of the truck also say it performs well off-road and like that there are a lot of options to chose from. Some drivers say that the bed is too small and the storage compartments are inconveniently located.