Led by fifth-year head coach Terry Allen, the Panthers compiled an overall record of 8–4 with a mark of 5–1 in conference play, winning the Gateway title for the fourth consecutive season.
Northern Iowa advanced to the NCAA Division I-AA Football Championship playoffs, where they lost in the first round to Boston University.
Quarterback Kurt Warner was in his senior season with the Panthers.
[13][14] Roster Andre Allen, LB Matt Harken, TE John Herrin, OT Tony Monroe, DL Tim Mosley, WR/P Donald Mumma, OC Kurt Warner, QB Myron Glass, DB Michael Hudnutt, OG Jason McCleary, DB Jeff Stovall, RB Joseph Wallace, DB Todd Harrington, DB D. Minnieweather, LB Casey Smith, DL Paul Wolf, LB Kurt Warner, QB Andre Allen, LB Terry Allen LB Andre Allen (1) RS Jason McCleary (1) WR Tim Mosley (2) OC D.J.
Mumma (2) RB Jeff Stovall (1) QB Kurt Warner (2)