National Champion: Minnesota (HELMS, NCF)
Heisman Memorial Trophy: Jay Berwanger (Chicago)
| Overall | Bowls | SRS | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rk | Conference | Schs | G | W | L | T | Pct | G | W | L | T | Pct | SRS | SOS | Pre | Champion |
| 1 | Southwest Conference | 7 | 78 | 52 | 26 | 0 | .667 | 2 | 1 | 1 | 0 | .500 | 10.21 | 4.96 | Southern Methodist | |
| 2 | Western Conference | 10 | 80 | 43 | 33 | 4 | .563 | 0 | 0 | 0 | 0 | 7.92 | 5.56 | Minnesota Ohio State |
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| 3 | Southeastern Conference | 13 | 130 | 78 | 51 | 1 | .604 | 2 | 0 | 2 | 0 | .000 | 7.88 | 4.32 | Louisiana State | |
| 4 | Pacific Coast Conference | 10 | 95 | 55 | 36 | 4 | .600 | 1 | 1 | 0 | 0 | 1.000 | 6.97 | 3.46 | Washington | |
| 5 | Big Six Conference | 6 | 54 | 23 | 20 | 11 | .528 | 0 | 0 | 0 | 0 | 4.42 | 2.98 | Nebraska | ||
| 6 | Independent | 46 | 411 | 222 | 163 | 26 | .572 | 0 | 0 | 0 | 0 | 2.16 | -1.24 | |||
| 7 | Southern Conference | 10 | 96 | 48 | 38 | 10 | .552 | 0 | 0 | 0 | 0 | 1.68 | -0.50 | Duke | ||
| 8 | Border Intercollegiate Athletic Association | 7 | 65 | 31 | 26 | 8 | .538 | 1 | 0 | 0 | 1 | .500 | -5.12 | -7.23 | Arizona | |
| 9 | Missouri Valley Conference | 7 | 68 | 26 | 37 | 5 | .419 | 0 | 0 | 0 | 0 | -5.54 | -3.01 | Tulsa Washington (MO) |
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| 10 | Rocky Mountain Conference | 12 | 96 | 43 | 48 | 5 | .474 | 0 | 0 | 0 | 0 | -8.48 | -7.52 | Colorado Utah State |
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| Heisman Memorial Trophy: | Jay Berwanger (Chicago) |
| AFCA Coach of the Year Award: | Pappy Waldorf (Northwestern) |
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Jay Berwanger*, B, Chicago Bobby Grayson*, B, Stanford Riley Smith, B, Alabama Bobby Wilson, B, Southern Methodist Wayne Millner, E, Notre Dame James Moscrip, E, Stanford Gaynell Tinsley, E, Louisiana State Gomer Jones, L, Ohio State Darrell Lester, L, Texas Christian Larry Lutz, L, California Sidney Wagner, L, Michigan State John Weller, L, Princeton Jc Wetsel, L, Southern Methodist Ed Widseth, L, Minnesota |