The Knights were led on offense by quarterback Kyle Israel and Consensus All-American running back Kevin Smith.

Taking revenge on Tulsa for beating them two years prior, UCF won the game 44–25, to claim their first Conference USA championship title.

The Longhorns led 20–10 at halftime, but the Knights came back to take a 24–23 lead early in the fourth quarter.

Texas then scored two field goals and a touchdown and appeared to be on the way to running out the clock before a Jamaal Charles fumble gave the Knights the ball back with about two minutes left in regulation.

UCF scored a touchdown and a two-point conversion to cut Texas' lead to 35–32 with 35 seconds remaining.

When the Knights were unable to recover their onside kick attempt, Texas was able to run out the clock and preserve their three-point victory.

The UCF Knights have beaten Memphis every time they have played them since joining Conference USA three years ago.

UCF scored their only offensive points—a Kyle Israel rush for a touchdown, and a field goal—in the first half.

UCF and USF would also exchange safeties, but South Florida held a commanding lead at halftime and proceeded to rout the Knights in the second half, with USF's second- and third-string QBs throwing long touchdown passes against a demoralized UCF defense en route to a 64–12 thrashing of the Knights.

UCF broke free of the two-game losing streak at home against the Tulsa Golden Hurricane, taking the lead in the 2nd quarter and never looking back.

Smith reasserted himself as the nation's #2 rusher, and the Junior tailback took the school's career rushing yards record (3,372).

On the next play, Smith ran up the middle, cut to his right and raced down the sideline to UCF's longest-ever run from scrimmage and a touchdown.

The 2-8 Blazers proved troublesome for the Knights, but UCF finished them off towards the end of the fourth quarter.

Earlier in the day, Marshall defeated ECU giving UCF the lead in the C-USA East Division, and due to a blowout win over Houston by Tulsa, the Knights are set to host the Conference Championship at their new on-campus stadium.

Paul Smith, the Tulsa quarterback, threw for 426 yards and three touchdowns, but also gave up three interceptions.

[10] With their Conference USA championship, UCF got an automatic berth at the AutoZone Liberty Bowl in Memphis, Tennessee on December 29, 2007.

In addition to winning the Conference USA title, UCF and its players won several other awards.