| Award | Player | Team |
| Player of the Year | Terrance Hanes | Norfolk |
| Front Office Bowl MVP | Reuben Spencer | Tulsa |
| Coach of the Year | Kevin Norris | Columbus (OH) |
| Legend of the Game | Cory Grant | Hartford |
| Offensive Player of the Year | Percy Holcomb | Wichita |
| Defensive Player of the Year | Chester Butler | Salt Lake City |
| Offensive Rookie of the Year | Allen Griffith | Honolulu |
| Defensive Rookie of the Year | Marco Howard | El Paso |
| All-League First Team Quarterback | Terrance Hanes | Norfolk |
| All-League First Team Running Back | Percy Holcomb | Wichita |
| All-League First Team Fullback | Derrick Mahoney | Little Rock |
| All-League First Team Tight End | Billy Joe Walker | Birmingham |
| All-League First Team Wide Receiver | Isaac Franz | Hartford |
| All-League First Team Wide Receiver | Bobby Griese | Norfolk |
| All-League First Team Center | Bert Ihler | Raleigh-Durham |
| All-League First Team Offensive Guard | Mickey Sheldon | Kentucky |
| All-League First Team Offensive Guard | Earnest Haggan | Charleston |
| All-League First Team Offensive Tackle | Bill Tate | Sacramento |
| All-League First Team Offensive Tackle | Calvin Heath | Las Vegas |
| All-League First Team Punter | Luke Thornton | Toledo |
| All-League First Team Kicker | Irving Watson | Charleston |
| All-League First Team Defensive End | Chester Butler | Salt Lake City |
| All-League First Team Defensive End | Alex Trainor | Hartford |
| All-League First Team Defensive Tackle | Will McKay | Memphis |
| All-League First Team Defensive Tackle | Juan Kramer | Portland |
| All-League First Team Inside Linebacker | Bernie Burke | Syracuse |
| All-League First Team Outside Linebacker | Timothy Preston | Syracuse |
| All-League First Team Outside Linebacker | Edward Hansen | Little Rock |
| All-League First Team Cornerback | Kent Zimmerman | Hartford |
| All-League First Team Cornerback | Sammy Jarvis | Memphis |
| All-League First Team Safety | Blake Loveless | Denver |
| All-League First Team Safety | Donnie Maiher | Toledo |
| All-League Second Team Quarterback | Hugh Humphries | Charleston |
| All-League Second Team Running Back | Bryant Codie | Little Rock |
| All-League Second Team Fullback | Jesse Lee | Oklahoma City |
| All-League Second Team Tight End | Terry Woody | Albuquerque |
| All-League Second Team Wide Receiver | Donny Stallings | Birmingham |
| All-League Second Team Wide Receiver | Todd Swope | Tulsa |
| All-League Second Team Center | Shaun Goodrich | Salt Lake City |
| All-League Second Team Offensive Guard | Marlon Van Dyke | Raleigh-Durham |
| All-League Second Team Offensive Guard | Irv Martinez | Syracuse |
| All-League Second Team Offensive Tackle | J.C. Hopkins | Albany |
| All-League Second Team Offensive Tackle | Brock Jewtuch | El Paso |
| All-League Second Team Punter | Bryant Emerson | Tulsa |
| All-League Second Team Kicker | Tyrus Rivers | Tulsa |
| All-League Second Team Defensive End | Mike Ivey | Denver |
| All-League Second Team Defensive End | Tommie Grissom | Kentucky |
| All-League Second Team Defensive Tackle | Alfred Marsh | Oklahoma City |
| All-League Second Team Defensive Tackle | Anthony Varner | Charleston |
| All-League Second Team Inside Linebacker | Darryl Garnett | Omaha |
| All-League Second Team Outside Linebacker | Luke Mansell | Toledo |
| All-League Second Team Outside Linebacker | Tom Bridges | Greenville |
| All-League Second Team Cornerback | Jamie Woodard | Columbus (OH) |
| All-League Second Team Cornerback | Lester Franklin | Denver |
| All-League Second Team Safety | Alvin Whiting | Las Vegas |
| All-League Second Team Safety | Dale Hicks | Wichita |
| League's Fastest Man | Bobby Griese | Norfolk |
| League's Strongest Man | Stanley Zordich | Greenville |