The 1923 Colorado Agricultural Aggies football team represented Colorado Agricultural College (now known as Colorado State University) in the Rocky Mountain Conference (RMC) during the 1923 college football season.
In their 13th season under head coach Harry W. Hughes, the Aggies compiled a 5–2–1 record, tied for second place in the RMC, and outscored all opponents by a total of 121 to 35.
On Thanksgiving, November 27, 1923, Colorado Agricultural met Colorado in Fort Collins for their annual rivalry game.
Colorado kicked the final, game-winning field goal with only 45 seconds remaining in the game.
Three Colorado Agricultural players were named to the first team: Houser at halfback; Bain at guard; and Weigle at tackle.