The 1941 SMU Mustangs football team was an American football team that represented Southern Methodist University (SMU) as a member of the Southwest Conference (SWC) during the 1941 college football season. In their seventh season under head coach Matty Bell, the Mustangs compiled a 5–5 record (2–4 against conference opponents) and outscored opponents by a total of 169 to 106. The team played its home games at Ownby Stadium in the University Park suburb of Dallas.