The 1988 Oklahoma State Cowboys football team represented the Oklahoma State University in the 1988 NCAA Division I-A college football season.

Future OSU head coach Mike Gundy was the starting QB for the Cowboys, while senior WR Hart Lee Dykes and junior RB Barry Sanders were both named first team All-American.

Sanders won the Heisman Trophy as the nation's most outstanding player for the season.

Sanders also ran for 222 yards and scored five touchdowns in his three quarters of action in the Holiday Bowl, a game that was not included with his season statistics.

at Lewis Field, Stillwater, Oklahoma Oklahoma State's Brent Parker dropped a potential game-winning touchdown pass in the end zone with 43 seconds left.