1943 SMU Mustangs football team

The 1943 SMU Mustangs football team was an American football team that represented Southern Methodist University (SMU) as a member of the Southwest Conference (SWC) during the 1943 college football season. In their second season under head coach Jimmy Stewart, the Mustangs compiled a 2–7 record (2–3 against conference opponents) and were outscored by a total of 115 to 69.

In the final Litkenhous Ratings, SMU ranked 71st among the nation's college and service teams with a rating of 75.1.

The team played its home games at Ownby Stadium in the University Park suburb of Dallas.