Final OAF ranking (& ratings) for the 1977 college football season:
| Rank | Team Name | Rating | Record | AP | UPI | Bowl Game Results |
| 1 | ARKANSAS | 114.6704 | 11-1 | 3 | 3 | Beat Oklahoma 31-6 |
| 2 | OKLAHOMA | 109.5963 | 10-2 | 7 | 6 | Lost to Arkansas |
| 3 | NOTRE DAME | 107.9846 | 11-1 | 1 | 1 | Beat Texas 38-10 |
| 4 | TEXAS | 107.4291 | 11-1 | 4 | 5 | Lost to Notre Dame |
| 5 | ALABAMA | 93.6224 | 11-1 | 2 | 2 | Beat Ohio State 35-6 |
| 6 | OHIO STATE | 92.6667 | 9-3 | 11 | 12 | Lost to Alabama |
| 7 | KENTUCKY | 89.8821 | 10-1 | 6 | Probation | No Bowl Game |
| 8 | PENN STATE | 88.7288 | 11-1 | 5 | 4 | Beat Arizona State 42-30 |
| 9 | WASHINGTON | 87.3917 | 8-4 | 10 | 9 | Beat Michigan 27-20 |
| 10 | MICHIGAN | 86.8362 | 10-2 | 9 | 8 | Lost to Washington |
| 11 | NEBRASKA | 86.0150 | 9-3 | 12 | 10 | Beat North Carolina 21-17 |
| 12 | USC | 82.6951 | 8-4 | 13 | 12 | Beat Texas A+M 47-28 |
| 13 | PITTSBURGH | 82.4060 | 9-2-1 | 8 | 7 | Beat Clemson 34-3 |
| 14 | TEXAS A+M | 82.1395 | ||||
| 15 | MICHIGAN STATE | 77.1667 | ||||
| 16 | STANFORD | 76.6868 | ||||
| 17 | UCLA | 76.1704 | ||||
| 18 | BAYLOR | 75.1164 | ||||
| 19 | NORTH CAROLINA | 74.9149 | ||||
| 20 | CALIFORNIA | 74.5787 | ||||
| 21 | HOUSTON | 73.5297 | ||||
| 22 | CLEMSON | 73.2449 | ||||
| 23 | LSU | 73.1511 | ||||
| 24 | WASHINGTON STATE | 73.0529 | ||||
| 25 | MARYLAND | 72.1074 | ||||
| 26 | MINNESOTA | 71.5540 | ||||
| 27 | FLORIDA STATE | 70.7376 | ||||
| 28 | TEXAS TECH | 70.1821 | ||||
| 29 | INDIANA | 70.0826 | ||||
| 30 | NORTH CAROLINA STATE | 69.5795 | ||||
| 31 | COLORADO | 69.3601 | ||||
| 32 | IOWA STATE | 69.0239 | ||||
| 33 | SYRACUSE | 68.9404 | ||||
| 34 | FLORIDA | 67.8288 | ||||
| 35 | SMU | 66.6323 | ||||
| 36 | NORTH TEXAS STATE | 65.3999 | ||||
| 37 | PURDUE | 65.1660 | ||||
| 38 | KANSAS | 64.9769 | ||||
| 39 | MISSOURI | 64.4214 | ||||
| 40 | BYU | 64.0678 | ||||
| 41 | IOWA | 63.7451 | ||||
| 42 | SAN DIEGO STATE | 63.6741 | ||||
| 43 | WISCONSIN | 63.1729 | ||||
| 44 | OKLAHOMA STATE | 63.1623 | ||||
| 45 | MISSISSIPPI STATE | 62.9882 | ||||
| 46 | AUBURN | 62.8195 | ||||
| 47 | MISSISSIPPI | 62.4326 | ||||
| 48 | ARIZONA STATE | 61.8749 | ||||
| 49 | ILLINOIS | 61.2941 | ||||
| 50 | MIAMI (O) | 60.7711 | ||||
| 51 | DUKE | 60.1457 | ||||
| 52 | GEORGIA TECH | 59.8029 | ||||
| 53 | GEORGIA | 59.7677 | ||||
| 54 | TENNESSEE | 59.4488 | ||||
| 55 | OREGON | 58.9641 |