Boise State finished the regular season at 10–1 and 6–1 in conference to win their sixth Big Sky title, their first since the national championship season of 1980. The only blemish was a one-point loss at Idaho State in mid-October. To complete the regular season, BSU finally defeated rivalIdaho for the first time since 1981, breaking a twelve-game winning streak for the Vandals. Both teams entered the game at 9–1 (and 5–1 in conference), and BSU head coach Pokey Allen promised to ride his horse down Boise's Broadway Ave, a street that runs past Bronco Stadium, if the game was a sellout. Allen fulfilled his promise.
Three Big Sky teams made the 16-team field for the I-AA playoffs: Boise State (10–1), Idaho (9–2), and Montana (9–2). Idaho lost a first round road game, and Montana won two home games before falling in the semifinals on the road to the eventual champion. The Broncos hosted and won three close games, against North Texas, Appalachian State, and Marshall to raise their overall record to 13–1. In the I-AA finals at Huntington, West Virginia, they were defeated by Jim Tressel's top-ranked Youngstown State 28–14. The 15 games are the most Boise State ever played in one season, and finished at 13–2.
The 1994 season is known by BSU fans as The Magic Carpet Ride, as the Broncos won all ten home games on the blue AstroTurf of Bronco Stadium. This was Boise State's last Big Sky title in football and final appearance in the I-AA playoffs; BSU moved up to Division I-A and the Big West Conference in 1996.