The 1982 SMU Mustangs football team represented the Southern Methodist University in the 1982 NCAA Division I-A football season. It was the first year for the team under head coach Bobby Collins and the Mustangs finished undefeated at 11–0–1, and were Southwest Conference champions (7–0–1). After SMU's tie to Arkansas, Penn State moved up to second and then defeated No. 1 Georgia in the Sugar Bowl to secure the top spot in the AP Poll and the Coaches Poll, despite a slightly less impressive final record of 11–1.