In their second year under head coach Fritz Crisler, the Golden Gophers compiled a 7–3 record, shut out four opponents, and outscored all opponents by a combined score of 191 to 72.
[1] Guard Clarence Munn was selected as the team's Most Valuable Player for the second consecutive year.
[2] Munn was also a consensus first-team player on the 1931 College Football All-America Team.
[3] Munn also received Chicago Tribune Silver Football, awarded to the most valuable player in the Big Ten Conference.
[4] Two Golden Gophers received first-team honors on the 1931 All-Big Ten Conference football team.