The 1940 Morehead State Eagles football team represented Morehead State Teachers College—now known as Morehead State University—as a member of the Kentucky Intercollegiate Athletic Conference (KIAC) and the Southern Intercollegiate Athletic Association (SIAA) during the 1940 college football season. Led by fifth-year head coach Ellis T. Johnson, the Eagles compiled an overall record of 3–2–2 with a mark of 1–1–2 in both KIAC and SIAA play.
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