The Tar Heels finished fifth in the Atlantic Coast Conference, with wins over Duke and NC State making them bowl eligible.
The two teams had met just one time before, in the 1981 Gator Bowl, which the Tar Heels won, 31-27.
Anthony Lucas caught a 25 yard pass from Barry Lunney to give the Razorbacks an early lead, but Darrin Ashford’s 18-yard TD catch from quarterback Mike Thomas tied the game at 7–7.
Todd Latourette gave the Hogs a 10–7 lead on his field goal in the third period, but the Tar Heels took the lead for the second and final time on Thomas' pitch to Johnson for 28 yards to make it 14–10.
Stevens, to make it 20–10 as the Tar Heels held on from there to win.