The 1940 Troy State Red Wave football team represented Troy State Teachers College (now known as Troy University) as a member of the Alabama Intercollegiate Conference (AIC) and the Southern Intercollegiate Athletic Association (SIAA) during the 1940 college football season.
Led by fourth-year head coach Albert Choate, the Red Wave compiled an overall record of 3–6, with a mark of 2–1 in AIC play.
Troy State had a record of 1–3 against SIAA opponents, tying for 22nd place.
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