In the season opener, Arizona State Teacher's College defeated Cal Poly 21-13 at Goodwin Stadium. The Bulldogs outlasted West Texas State 19-13 on the road. ASTC was shutout 17-0 at Hardin-Simmons. The Bulldogs rebounded with a 13-6 road victory against New Mexico. Arizona State Teacher's College prevailed for a 42-6 home win over New Mexico State. The Bulldogs ended in a 0-0 tie at Texas-El Paso. ASTC delivered a 12-0 road shutout victory against NAU. The Bulldogs ended in a 7-7 tie against Gonzaga in Tempe. Arizona State Teacher's College shutout Northern Colorado 41-0 at Goodwin Stadium. In the home finale, the Bulldogs defeated North Dakota 30-12. It marked the only meeting between the teams in school history.
On January 1, 1941, Arizona State lost to Case Western Reserve 26-13 in the 1941 Sun Bowl. It marked the only meeting between the teams in school history. The game was played at Kidd Field in El Paso, Texas with a crowd of 12,000 on hand. Joe Hernandez threw a 10-yard touchdown pass to fullback Wayne Pitts for a Bulldogs score, but the extra point failed. Halfback Hascall Henshaw recorded a 94-yard rushing touchdown for Arizona State, which stood as the longest run from scrimmage in Arizona State football history until 1968. Henshaw finished with 147 rushing yards in the bowl game. Case Western Reserve's scoring started with a one-yard touchdown run by Steve Belichick, who is the father of NFL head coachBill Belichick. Willis Waggle's 10-yard return of a blocked punt for a touchdown, Richard Booth's five-yard touchdown run, and Johnny Reis' three-yard touchdown run completed the scoring plays for Case Western Reserve.
Roster
The usual Arizona State lineup included left end Sam Andrews, left tackle Olin Mason, left guard Frank Consentino, center Ray Green, right guard Clayton Peterson, right tackle Barney Rouse, right end Bob Lackey, quarterback Walt Ruth, halfbacks Hascall Henshaw and Albert Sanserino, and fullback Wayne Pitts. Bob Baccus, John Balshor, Dominic Campolo, Phil Coleman, and Bill Davis were also on the roster.
Awards and honors
Four Arizona State players received All-Border Conference honors in 1940: Sam Andrews, Ray Green, Hascall Henshaw, and Albert Sanserino. For Sanserino, it was his third consecutive year receiving All-Border Conference honors.