In its sixth year under head coach Jeff Cravath, the team compiled a 7–2–1 record (6–0 against conference opponents), won the PCC championship, was ranked No.
The team lost to Notre Dame in the final game of the regular season and to Michigan in the 1948 Rose Bowl on New Year's Day.
[1] Four USC players received first-team honors on the 1947 All-Pacific Coast football teams selected by the PCC coaches, the Associated Press (AP), and the United Press (UP): end Paul Cleary (Coaches-1, AP-1, UP-1); tackle John Ferraro (Coaches-1, AP-1, UP-1); halfback Don Doll (Coaches-1, AP-1, UP-1); and tackle Bob Hendren (AP-1).
[2][3][4] Cleary and Ferraro were later inducted into the College Football Hall of Fame.
The team played its home games at the Los Angeles Memorial Coliseum.