| Year: | 1984 |
| Team: | SMU Mustangs |
| Sport: | football |
| Conference: | Southwest Conference |
| Short Conf: | SWC |
| Coachrank: | 8 |
| Aprank: | 8 |
| Record: | 10–2 |
| Conf Record: | 6–2 |
| Head Coach: | Bobby Collins |
| Hc Year: | 3rd |
| Off Scheme: | No-huddle option |
| Def Coach: | Bill Clay |
| Dc Year: | 3rd |
| Def Scheme: | 3–4 |
| Champion: | SWC co-champion Aloha Bowl champion |
| Bowl: | Aloha Bowl |
| Bowl Result: | W 27–20 vs. Notre Dame |
The 1984 SMU Mustangs football team represented Southern Methodist University (SMU) as a member of the Southwest Conference (SWC) during the 1984 NCAA Division I-A football season. Led by third-year head coach Bobby Collins, the Mustangs compiled an overall record 10–2 with a mark of 6–2 in conference play, sharing the SWC title with Houston and marking the third time in four years that SMU had at least a share of the title. This was the last year the Mustangs would win a conference title until 2023 when they won the American Athletic Conference title.[1]
While Houston, who beat SMU, received a bid to the Cotton Bowl Classic, the Mustangs were invited to play in the Aloha Bowl, where they defeated Notre Dame, 27–20. SMU finished the season ranked No. 8 in both the major polls.
1984 marked SMU's fourth consecutive ten-win season. The Mustangs did not make another bowl game appearance until the 2009 season.
| Player | Position | Round | Pick | NFL club | |
| Cornerback | 2 | 49 | Chicago Bears | ||
| Tackle | 4 | 112 | Buffalo Bills | ||
| Ron Anderson | Linebacker | 10 | 278 | Denver Broncos | |
| Chris Jackson | Center | 11 | 293 | Kansas City Chiefs |