| Award | Player | Team |
| Player of the Year | Allen Fundinger | Omaha |
| Front Office Bowl MVP | C.J. Bevins | Albany |
| Coach of the Year | Russell Graham | Albany |
| Legend of the Game | Kelvin DuBois | Knoxville |
| Offensive Player of the Year | Allen Fundinger | Omaha |
| Defensive Player of the Year | Freddie Von Hagel | Denver |
| Offensive Rookie of the Year | Casey Woodson | Austin |
| Defensive Rookie of the Year | Skip Shaw | Knoxville |
| All-League First Team Quarterback | Allen Fundinger | Omaha |
| All-League First Team Running Back | Blaine Besbeas | Tucson |
| All-League First Team Fullback | Isaac Huntley | Grand Rapids |
| All-League First Team Tight End | Rico Pichardo | Charleston |
| All-League First Team Wide Receiver | James Jacobs | Memphis |
| All-League First Team Wide Receiver | Marc McGriff | Memphis |
| All-League First Team Center | Kelvin DuBois | Knoxville |
| All-League First Team Offensive Guard | Henry Kurasch | Albuquerque |
| All-League First Team Offensive Guard | Chester Conway | Fresno |
| All-League First Team Offensive Tackle | Robert Downs | Richmond |
| All-League First Team Offensive Tackle | John Ramey | Albany |
| All-League First Team Punter | Devin Green | Syracuse |
| All-League First Team Kicker | Wes Deshaies | Greenville |
| All-League First Team Defensive End | Eddie Stevenson | Las Vegas |
| All-League First Team Defensive End | Harvey Ward | Raleigh-Durham |
| All-League First Team Defensive Tackle | David Scoggin | Hartford |
| All-League First Team Defensive Tackle | Randy Savard | Birmingham |
| All-League First Team Inside Linebacker | Ronnie Green | Hartford |
| All-League First Team Outside Linebacker | Freddie Von Hagel | Denver |
| All-League First Team Outside Linebacker | Daryl Erickson | Little Rock |
| All-League First Team Cornerback | Will Boesiger | Providence |
| All-League First Team Cornerback | Everett Nelson | Raleigh-Durham |
| All-League First Team Safety | Marvin Bailey | Syracuse |
| All-League First Team Safety | Britt Dent | Raleigh-Durham |
| All-League Second Team Quarterback | Leroy Tarkenton | Charleston |
| All-League Second Team Running Back | Harvey Farmer | Honolulu |
| All-League Second Team Fullback | Toby Houston | Toledo |
| All-League Second Team Tight End | Heath Umenyiora | Denver |
| All-League Second Team Wide Receiver | Charles Gossett | Albuquerque |
| All-League Second Team Wide Receiver | Lorenzo Bryden | Omaha |
| All-League Second Team Center | Dexter Preston | Portland |
| All-League Second Team Offensive Guard | Don Muhammad | Richmond |
| All-League Second Team Offensive Guard | Blake McClinton | Columbus (OH) |
| All-League Second Team Offensive Tackle | Dexter Austin | Las Vegas |
| All-League Second Team Offensive Tackle | Van Mooney | Honolulu |
| All-League Second Team Punter | Colin Lyons | Norfolk |
| All-League Second Team Kicker | Geoff Shinn | Honolulu |
| All-League Second Team Defensive End | Butch Muyers | Richmond |
| All-League Second Team Defensive End | Tracy Rucci | Las Vegas |
| All-League Second Team Defensive Tackle | Zack Shaw | Knoxville |
| All-League Second Team Defensive Tackle | Ian Van Pelt | Memphis |
| All-League Second Team Inside Linebacker | Ross Methe | Omaha |
| All-League Second Team Outside Linebacker | Omar Schneider | Columbus (OH) |
| All-League Second Team Outside Linebacker | Skip Shaw | Knoxville |
| All-League Second Team Cornerback | Omar Fleming | Memphis |
| All-League Second Team Cornerback | Otis Yount | Knoxville |
| All-League Second Team Safety | Skip Franklin | Kentucky |
| All-League Second Team Safety | Anthony Summers | Albany |
| League's Fastest Man | Charlie Sanderson | Albany |
| League's Strongest Man | Donovan Erickson | Tulsa |