Monk was named SEC Player of The Week after scoring a UK freshman record 47 points, and Fox was named SEC Freshman of the Week by recording a career-high 24 points and dishing out 10 assists in the thrilling win over the Tar Heels at the CBS Sports Classic in Las Vegas.
The duo combined for 71 points, 12 assists, four rebounds and three steals in the Cats' signature win of the season to date.
Fox and Monk connected on the go-ahead basket against the Tar Heels as Fox's 10th assist set up Monk's eighth 3-pointer at the :22 mark to put UK ahead for good.
Monk finished the game 18-of-28 from the field and 8-for-12 from beyond the 3-point arc.
The Arkansas native's 47 points tied Hall of Famer Dan Issel for the sixth-highest scoring total for a player in UK Basketball history and fell just seven points shy of Jodie Meek's overall school record. He is the only player during the John Calipari era to score 40 points for the Cats.
It also marked the second-highest scoring total ever against North Carolina. Duke's Dick Groat scored 48 against the Tar Heels on Feb. 29, 1952.
The 47 points were the most by an SEC freshman since LSU's Chris Jackson scored 55 against Ole Miss on March 4, 1989.
Monk is currently averaging 21.9 points per game, which is on pace to be the highest figure ever for a Calipari-coached player.
Fox, meanwhile, is ahead of Tyler Ulis's school-record pace for assists set last season. The Texas native is averaging 15.9 points, 7.2 assists and 5.3 rebounds per game.
Kentucky returns to action Wednesday against No. 10 Louisville at the KFC Yum! Center. Tipoff is slated for 7 p.m. ET on ESPN.