1932 Howard Payne Yellow Jackets football team

The 1932 Howard Payne Yellow Jackets represented Howard Payne College—now known as Howard Payne University—as a member of the Texas Conference during the 1932 college football season. Led by fifth-year head coach Joe Bailey Cheaney, the Yellow Jackets compiled an overall record of 7–1 with a mark of 4–0 in conference play, winning the Texas Conference title for the fifth consecutive season.