Colt McCoy ran for a record 175 yards as Texas beat rival Texas A&M 49-39 Thursday night.
He received 26 of a possible 59 votes from AP college football poll voters to edge Stanford running back Toby Gerhart, who received 20 votes.
Heisman Trophy winner Mark Ingram finished tied for third with Texas quarterback Colt McCoy, each getting six votes. Florida's Tim Tebow received one vote.
Since the AP started handing out a player of the year award in 1998, all the winners have been quarterbacks or running backs.