Final OAF ranking (& ratings) for the 1978 college football season:
| Rank | Team Name | Rating | Record | AP | UPI | Bowl Game Results |
| 1 | OKLAHOMA | 113.7351 | 11-1 | 3 | 3 | Beat Nebraska 31-24 |
| 2 | ALABAMA | 106.9220 | 11-1 | 1 | 2 | Beat Penn State 14-7 |
| 3 | PENN STATE | 106.3465 | 11-1 | 4 | 4 | Lost to Alabama |
| 4 | MICHIGAN STATE | 102.2336 | 8-3 | 12 | Probation | No Bowl Game |
| 5 | USC | 98.2898 | 12-1 | 2 | 1 | Beat Michigan 17-10 |
| 6 | MICHIGAN | 97.7143 | 10-2 | 5 | 5 | Lost to USC |
| 7 | MISSOURI | 93.8840 | 8-4 | 14 | 15 | Beat LSU 20-15 |
| 8 | NEBRASKA | 93.1961 | 9-3 | 8 | 8 | Lost to Oklahoma |
| 9 | NOTRE DAME | 90.8841 | 9-3 | 7 | 7 | Beat Houston 35-34 |
| 10 | PURDUE | 82.4831 | 9-2-1 | 12 | 14 | Beat Georgia Tech 41-21 |
| 11 | HOUSTON | 81.4393 | 9-3 | 10 | 11 | Lost to Notre Dame |
| 12 | TEXAS | 81.1041 | 9-3 | 9 | 9 | Beat Maryland 42-0 |
| 13 | ARKANSAS | 80.7943 | 9-2-1 | 11 | 10 | Tied UCLA 10-10 |
| 14 | TEXAS TECH | 80.1182 | 7-4 | NR | NR | No Bowl Game |
| 15 | WASHINGTON | 77.8649 | 7-4 | NR | NR | No Bowl Game |
| 16 | UCLA | 77.2480 | 8-3-1 | 13 | 13 | Tied Arkansas 10-10 |
| 17 | STANFORD | 76.7374 | 8-4 | 15 | 16 | Beat Georgia 25-22 |
| 18 | CLEMSON | 76.5034 | 11-1 | 6 | 6 | Beat Ohio State 17-15 |
| 19 | ARIZONA STATE | 76.3627 | 9-3 | NR | 19 | Beat Rutgers 34-18 |
| 20 | OHIO STATE | 75.9278 | 7-5-1 | NR | NR | Lost to Clemson |
| 21 | TEXAS A+M | 72.5048 | 8-4 | 18 | 19 | Beat Iowa State 28-12 |
| 22 | SMU | 72.1014 | ||||
| 23 | MARYLAND | 72.0752 | ||||
| 24 | IOWA STATE | 71.9293 | ||||
| 25 | NORTH CAROLINA STATE | 71.3281 | ||||
| 26 | OKLAHOMA STATE | 68.0054 | ||||
| 27 | WISCONSIN | 66.8363 | ||||
| 28 | BAYLOR | 66.3352 | ||||
| 29 | COLORADO | 64.8083 | ||||
| 30 | ARIZONA | 63.1451 | ||||
| 31 | MINNESOTA | 62.6608 | ||||
| 32 | CALIFORNIA | 62.6254 | ||||
| 33 | LSU | 62.2486 | ||||
| 34 | INDIANA | 62.0828 | ||||
| 35 | GEORGIA | 61.5634 | ||||
| 36 | KANSAS STATE | 61.3523 | ||||
| 37 | AUBURN | 60.6240 | ||||
| 38 | FLORIDA STATE | 59.4871 | ||||
| 39 | RICE | 59.1962 | ||||
| 40 | NORTH TEXAS STATE | 58.0207 | ||||
| 41 | GEORGIA TECH | 56.9668 | ||||
| 42 | MISSISSIPPI | 56.2633 | ||||
| 43 | MISSISSIPPI STATE | 56.0776 | ||||
| 44 | OREGON STATE | 55.3375 | ||||
| 45 | MIAMI (F) | 55.1411 | ||||
| 46 | TENNESSEE | 55.0840 | ||||
| 47 | FLORIDA | 54.5655 | ||||
| 48 | PITTSBURGH | 54.5401 | ||||
| 49 | KENTUCKY | 54.0198 | ||||
| 50 | IOWA | 53.9428 | ||||
| 51 | KANSAS | 53.5101 | ||||
| 52 | ILLINOIS | 53.3613 | ||||
| 53 | TULANE | 52.2833 | ||||
| 54 | NAVY | 51.1043 | ||||
| 55 | SYRACUSE |