The Knights played their home games at the newly renamed Spectrum Stadium in Orlando, Florida, and competed in the East Division of the American Athletic Conference.

Frost believed that the committee deliberately ranked the Knights low enough on a weekly basis that they had no realistic chance of finishing in the top four.

The Knights were set to host conference foes UConn, East Carolina, Memphis, and South Florida and were to travel to Cincinnati, Navy, SMU, and Temple.

In the latter weeks of the regular season, fueled by the team's success on the field, media reports began surfacing about the possibility of head coach Scott Frost departing UCF for another school.

[33][37][38] Frost, the former national championship winning quarterback at Nebraska, had expressed personal interest in the Cornhuskers head coaching job, and it incidentally became available in November.

[41] The win cemented UCF as the top Group of Five school in the nation, clinching them an automatic berth in a New Year's Six bowl game.

Despite their unblemished 12–0 record up to that point, the Knights were not named to the College Football Playoff top four, and effectively could not play for the CFP National Championship.

[44] After several days of uncertainty,[45] and mild controversy,[46] an agreement was reached such that Frost and his staff would return to UCF to coach the bowl game.

[68] Navy welcomed the Knights to Annapolis following the Midshipmen's first loss of the season, 30–27 at Memphis,[69][70] while riding a 17-game home win streak.

[71][74] Coming off of their closest game yet, the Knights welcomed the Austin Peay Governors (an FCS program) to Spectrum Stadium.

[77] Both teams offenses surged throughout the game, with the Governors putting up 352 yards[78] and 33 points, the most by any UCF opponent in the season at the time.

The Knights defense forced a crucial SMU fumble at the goal line, keeping the Mustangs from scoring a touchdown in the second quarter.

Midway through the second quarter, McKenzie Milton threw to Tre'Quan Smith who eluded three defenders untouched for a 41-yard touchdown pass, and UCF enjoyed a 28–10 halftime lead.

Huskies quarterback David Pindell completed a 60-yard pass to Arkeel Newsome, and on the next play, ran the ball in himself for a touchdown, and trimmed the lead to 28–17.

Otis Anderson fumbled the ball deep in UConn territory, and later a turnover on downs, and UCF miscues became the focus of attention.

On the next play from scrimmage, backup quarterback Noah Vedral threw a 35-yard touchdown to Cam Stewart, who was left unguarded, and the Knights sealed a 49–24 victory.

[87] With Georgia's loss to Auburn, UCF would be one of four remaining undefeated teams in the country (the others being Alabama, Miami (FL), and Wisconsin).

[88] With just over three minutes left before halftime, UCF punter Mac Loudermilk pinned the Owls back at their own 8 yard line.

On the next play from scrimmage, Owls quarterback Frank Nutile was intercepted by Kyle Gibson, who returned the ball to the 5 yard line.

That set up a McKenzie Milton touchdown pass to Gabe Davis, and capped off an explosive second quarter, and a comfortable 31–10 lead by the Knights at halftime.

[91] The game came down to the wire, with UCF taking an eight-point lead (following an earlier missed extra point by South Florida) with 2:21 left in regulation.

Tigers quarterback Riley Ferguson threw two touchdown passes, including a 68-yard bomb to a wide open Anthony Miller.

Tigers kicker Riley Patterson kicked a 27-yard field goal as time expired in the first half, and Memphis led at halftime 31–24.

Facing 2nd down & Goal at the UCF 9 yard line, Riley Ferguson dropped back to pass, but was pressured by Shaquem Griffin.

A mishandled snap was fumbled by quarterback McKenzie Milton and recovered by Auburn, which led to a Tigers field goal and a 3–0 lead.

Milton, with two long quarterback runs, put the Knights in field goal range, and the score was tied 3–3 partway through the second quarter.

Under pressure and scrambling, Milton found Dredrick Snelson at the back of the endzone for a leaping touchdown catch and a 27–20 UCF lead.

With the Knights now leading 34–20 with under six minutes to go, Auburn fans began heading for the exits, and the UCF side of the stadium turned into a frenzy.

Looking to run out the clock, and ice the game, the Knights drove to the Auburn 21, where they faced 4th down & 7 with 2:18 left in regulation.

A few days later, UCF was ranked number 1 by the Colley Matrix, an NCAA-designated major selector of football national championships.