Playing as a member of the Southern Conference (SoCon), the team was led by head coach Robert Neyland, in his sixth year, and played their home games at Shields–Watkins Field in Knoxville, Tennessee.
The 1931 Vols won nine, lost zero and tied one game (9–0–1 overall, 6–0–1 in the SoCon).
For the third time in four years, Kentucky spoiled Tennessee's bid for a perfect season with a tie.
Tennessee concluded the 1931 season on December 7 with a charity game at Yankee Stadium against NYU.
The 1931 Vols outscored their opponents 243 to 15 and posted eight shutouts.