Led by second-year head coach Dick Boyle, San Francisco State compiled a record of 3–5 and was outscored by its opponents 139 to 73.
The team played home games at Roberts Field in San Francisco.
Although the "Gator" was voted to be the mascot for the team in 1931, local newspaper articles called the team the "Staters" from 1935 through 1940.
San Francisco State was ranked at No.
529 (out of 697 college football teams) in the final rankings under the Litkenhous Difference by Score system for 1940.