Davis served as the head coach of the University of North Carolina at Chapel Hill (UNC) Tar Heels football team from 2007 until the summer of 2011, when a series of National Collegiate Athletic Association (NCAA) investigations resulted in his dismissal.

[2] Not long after Davis' arrival, the Hurricanes were found to have committed several violations of NCAA rules during the tenure of his predecessor, Dennis Erickson.

During Davis' final year as head coach, the Hurricanes finished 11–1, their best season since coming up one win short of the 1992 national championship.

The Hurricanes used the snub as motivation in the following season for a run to their first undisputed national championship in two decades under Davis' offensive coordinator, Larry Coker.

Ultimately, the BCS added a "quality win" bonus to its formula, which gave extra credit for beating a top-ten team.

Numerous professional football players were coached or recruited by Davis in his time at Miami, such as Ray Lewis, Ed Reed, Andre Johnson, Clinton Portis, Edgerrin James, Reggie Wayne and Jeremy Shockey.

The Browns posted a 9–7 record and got a playoff berth in Davis' second year, getting in after winning two close games in a row against the Baltimore Ravens and the Atlanta Falcons.

On November 13, 2006, University of North Carolina athletic director Dick Baddour announced that Davis had been hired as the school's new head football coach.

During the season, suspicion mounted that Davis would leave UNC after his first year if the head coaching job at his alma mater, Arkansas, opened up.

Davis said in a statement that one year at UNC convinced him that this was where he wanted to be, and that he intended to have "a long and successful career in Chapel Hill.

Baddour said he could not release all the details of the contract until it was approved by the school's board of trustees, but did say the base salary would rise $29,000, the expenses would go up $5,000, and Davis' supplemental income would go up $100,000.

The 2008 North Carolina Tar Heels football team were expected to be much improved from the previous year, with most outlets picking them to finish second in the Coastal Division.

The following Saturday, the Tar Heels defeated the Notre Dame Fighting Irish, their first regular-season win as a ranked team in 11 years.

The America Football Coaches Association recognized fewer than 30 public universities for superior graduation rates last year, with UNC the only such institution in the state of North Carolina and the Atlantic Coast Conference.

[5] In July 2010, the NCAA began investigating violations involving improper benefits provided by agents to current players at UNC.

[7] In response to the investigation, local and national sports columnists called for Davis' termination,[8][9] but some North Carolina fans still supported the coach.

[11] Thirteen UNC football players were suspended for the team's season opener in Atlanta against the Louisiana State University Tigers, and the Tar Heels lost the game 30–24.

[12] On July 27, 2011, Davis was fired by UNC chancellor Holden Thorp amid an NCAA investigation of academic misconduct and allegations players receiving improper benefits from agents.

In 2013, Davis told CBS Sports' Bruce Feldman that he believed his firing was an "overreaction" by Thorp, in the belief that "if he released me, maybe the investigation of the football program would go in a different direction."

[17] On November 14, 2016, Davis confirmed he was leaving his analyst position at ESPN and agreed to a five-year contract to take the head coaching job at Florida International.