The 2015–16 SMU Mustangs women's basketball team will represent Southern Methodist University in the 2015–16 NCAA Division I women's basketball season. The Mustangs will play their home games at Moody Coliseum. The 2015–16 season will be the third season the Mustangs will participate in the American Athletic Conference. The Mustangs, led by twenty-fifth year head coach Rhonda Rompola, finished the season 13–18, 7–11 in AAC play to finish in seventh place. They advanced to the quarterfinals of the American Athletic women's tournament where they lost to South Florida.