The 1940 Murray State Thoroughbreds football team represented Murray State Teachers College—now known as Murray State University—as a member the Kentucky Intercollegiate Athletic Conference (KIAC) and the Southern Intercollegiate Athletic Association (SIAA) during the 1940 college football season. Led by ninth-year head coach Roy Stewart, the Thoroughbreds compiled an overall record of 4–3–2 with marks of 0–1–1 in KIAC play and 4–2–1 against SIAA opponents.
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