The 2008 SMU Mustangs football team represented Southern Methodist University (SMU) as a member the West Division of Conference USA (C-USA) during the 2008 NCAA Division I FBS football season.

Led by first-year head coach June Jones, the Mustangs compiled an overall record of 1–11 with a mark of 0–8 in conference play, placing last of out of six teams in C-USA's West Division.

SMU played their home games at Gerald J. Ford Stadium in University Park, Texas.

Sixth year head coach Phil Bennett was fired following the team's last game of the season.

[1][2] Jones's contract was worth $2 million, making him the highest paid coach in Conference USA.