The Razorbacks were crowned Southwest Conference champs, but forfeited the title as a result of playing an ineligible athlete. Ulysses "Heine" Schleuter had told coach Fred Thomsen that he had remaining eligibility, but had played at Nebraska in 1931 and 1932, as well as for Kemper Military School. Schleuter's status wasn't brought out until the SMU game, when a Mustang recognized Schleuter as a former Cornhusker. The title was vacated for 1933.
The Dixie Classic was the first bowl appearance in Arkansas Razorbacks history. Their opponent, Centenary, was undefeated in the regular season. The game, played in Dallas, was the final Dixie Classic, a predecessor to the Cotton Bowl Classic. The Razorbacks dented the scoreboard first, on a 24-yard hookup from Tom Murphy to Elvin Geiser in the second quarter. The Gentlemen returned with a 20-yard touchdown pass, but missed the extra point to give Arkansas a 7–6 lead. However, a Razorback was called offside, the down was replayed, and Centenary's kicker Chester Weidman's kick was true.