The 53rd annual Fiesta Bowl featured Liberty of Conference USA (C-USA) and Oregon of the Pac-12 Conference—teams selected at-large by the College Football Playoff selection committee.
Oregon defeated Liberty, 45–6, to claim their second consecutive bowl victory.
They beat New Mexico State in the 2023 Conference USA Football Championship Game, 49–35.
Both of their losses were to Washington; once during the regular season and again in the 2023 Pac-12 Football Championship Game.
This was Oregon's fourth Fiesta Bowl; entering the game, they were 2–1 in prior appearances, most recently playing in the January 2021 edition, which they lost.