Final OAF ranking (& ratings) for the 1981 college football season:
| Rank | Team Name | Rating | Record | AP | UPI | Bowl Game Results |
| 1 | CLEMSON | 110.6117 | 12-0 | 1 | 1 | Beat Nebraska 22-15 |
| 2 | NEBRASKA | 107.6938 | 9-3 | 11 | 9 | Lost to Clemson |
| 3 | PITTSBURGH | 104.6726 | 11-1 | 4 | 2 | Beat Georgia 24-20 |
| 4 | GEORGIA | 104.0800 | 10-2 | 6 | 5 | Lost to Pittsburgh |
| 5 | PENN STATE | 103.6750 | 10-2 | 3 | 3 | Beat USC 26-10 |
| 6 | MIAMI (F) | 101.0001 | 9-2 | 8 | Probation | No Bowl Game |
| 7 | WASHINGTON | 100.5627 | 10-2 | 10 | 7 | Beat Iowa 28-0 |
| 8 | MICHIGAN | 97.4509 | 9-3 | 12 | 10 | Beat UCLA 33-14 |
| 9 | SMU | 97.0849 | 10-1 | 5 | Probation | No Bowl Game |
| 10 | ARIZONA STATE | 96.8365 | 9-2 | 16 | Probation | No Bowl Game |
| 11 | USC | 95.6801 | 9-3 | 14 | 13 | Lost to Penn State |
| 12 | UCLA | 95.0660 | 7-4-1 | NR | NR | Lost to Michigan |
| 13 | OHIO STATE | 93.7677 | 9-3 | 15 | 12 | Beat Navy 31-28 |
| 14 | IOWA | 93.6060 | 8-4 | 18 | 15 | Lost to Washington |
| 15 | TEXAS | 93.5238 | 10-1-1 | 2 | 4 | Beat Alabama 14-12 |
| 16 | OKLAHOMA | 93.1583 | 7-4-1 | 20 | 14 | Beat Houston 40-14 |
| 17 | ALABAMA | 92.9312 | 9-2-1 | 7 | 6 | Lost to Texas |
| 18 | BYU | 92.8661 | 11-2 | 13 | 11 | Beat Washington State 38-36 |
| 19 | WASHINGTON STATE | 92.2735 | ||||
| 20 | HOUSTON | 90.6747 | ||||
| 21 | ILLINOIS | 89.7763 | ||||
| 22 | NORTH CAROLINA | 86.5314 | ||||
| 23 | MICHIGAN STATE | 86.3527 | ||||
| 24 | ARKANSAS | 85.9388 | ||||
| 25 | MINNESOTA | 85.7335 | ||||
| 26 | HAWAII | 85.6209 | ||||
| 27 | MISSOURI | 85.2607 | ||||
| 28 | SOUTHERN MISSISSIPPI | 84.6681 | ||||
| 29 | UTAH | 84.5735 | ||||
| 30 | WYOMING | 84.3377 | ||||
| 31 | WISCONSIN | 83.9781 | ||||
| 32 | MISSISSIPPI STATE | 83.7284 | ||||
| 33 | FLORIDA STATE | 83.6736 | ||||
| 34 | NOTRE DAME | 83.4796 | ||||
| 35 | STANFORD | 83.3479 | ||||
| 36 | KANSAS | 83.1358 | ||||
| 37 | TEXAS A+M | 81.4691 | ||||
| 38 | INDIANA | 81.1916 | ||||
| 39 | PURDUE | 81.1731 | ||||
| 40 | OKLAHOMA STATE | 80.8765 | ||||
| 41 | WEST VIRGINIA | 80.6282 | ||||
| 42 | TEMPLE | 80.4299 | ||||
| 43 | FLORIDA | 80.0356 | ||||
| 44 | IOWA STATE | 79.2875 | ||||
| 45 | ARIZONA | 79.0398 | ||||
| 46 | TENNESSEE | 78.7644 | ||||
| 47 | UNLV | 78.7110 | ||||
| 48 | SAN DIEGO STATE | 78.4968 | ||||
| 49 | PACIFIC | 77.7020 | ||||
| 50 | COLORADO | 77.5218 | ||||
| 51 | SAN JOSE STATE | 77.4026 | ||||
| 52 | SYRACUSE | 76.6245 | ||||
| 53 | SOUTH CAROLINA | 76.4256 | ||||
| 54 | AUBURN | 76.3719 | ||||
| 55 | CALIFORNIA | 76.2476 |