| Award | Player | Team |
| Player of the Year | Dustin Grossman | Cincinnati |
| Front Office Bowl MVP | Dustin Grossman | Cincinnati |
| Coach of the Year | Gino Ballard | Cincinnati |
| Legend of the Game | Sammie Floyd | Oakland |
| Offensive Player of the Year | Dustin Grossman | Cincinnati |
| Defensive Player of the Year | Claude Manning | Seattle |
| Offensive Rookie of the Year | O.J. Grandon | Indianapolis |
| Defensive Rookie of the Year | Peter McCreadie | Philadelphia |
| All-League First Team Quarterback | Dustin Grossman | Cincinnati |
| All-League First Team Running Back | Mack Humphrey | Atlanta |
| All-League First Team Fullback | Ed Hopper | San Diego |
| All-League First Team Tight End | Andrew Freeman | Atlanta |
| All-League First Team Wide Receiver | Herman Nager | Carolina |
| All-League First Team Wide Receiver | Brock Poston | San Francisco |
| All-League First Team Center | Harold Peters | Chicago |
| All-League First Team Offensive Guard | Dominic Bullock | Atlanta |
| All-League First Team Offensive Guard | Fernando Fredrickson | Green Bay |
| All-League First Team Offensive Tackle | Darryl Doyle | Oakland |
| All-League First Team Offensive Tackle | J.R. Scarbrough | Kansas City |
| All-League First Team Punter | Lewis Lynch | Indianapolis |
| All-League First Team Kicker | Cary Clayton | Kansas City |
| All-League First Team Defensive End | Claude Manning | Seattle |
| All-League First Team Defensive End | Kendrick Clayton | Chicago |
| All-League First Team Defensive Tackle | Steven Fletcher | New England |
| All-League First Team Defensive Tackle | Mitch Wagner | Dallas |
| All-League First Team Inside Linebacker | Brad Springer | Cincinnati |
| All-League First Team Outside Linebacker | Winfred Prescott | Seattle |
| All-League First Team Outside Linebacker | Ross Warren | New Orleans |
| All-League First Team Cornerback | Darren Bernard | San Francisco |
| All-League First Team Cornerback | Louie Hamilton | Cincinnati |
| All-League First Team Safety | Herman Dermody | Detroit |
| All-League First Team Safety | Dennis Finneran | Green Bay |
| All-League Second Team Quarterback | Andre Bush | New Orleans |
| All-League Second Team Running Back | Ross O'Neill | Seattle |
| All-League Second Team Fullback | Karl Battle | Chicago |
| All-League Second Team Tight End | Sam Emmons | Houston |
| All-League Second Team Wide Receiver | Buddy Hickman | Baltimore |
| All-League Second Team Wide Receiver | Darrell Hoffman | New Jersey |
| All-League Second Team Center | Rondell Wright | Tennessee |
| All-League Second Team Offensive Guard | Lamar Montgomery | Chicago |
| All-League Second Team Offensive Guard | Archie Ogunleye | Houston |
| All-League Second Team Offensive Tackle | Randal Godfrey | Green Bay |
| All-League Second Team Offensive Tackle | Ed Murphy | Tennessee |
| All-League Second Team Punter | Lionel Jamison | Cleveland |
| All-League Second Team Kicker | Allen Galarza | Cincinnati |
| All-League Second Team Defensive End | Byron Cash | Dallas |
| All-League Second Team Defensive End | Marvin Palma | Miami |
| All-League Second Team Defensive Tackle | Randal Russell | Tennessee |
| All-League Second Team Defensive Tackle | Earnest Stargell | Seattle |
| All-League Second Team Inside Linebacker | Kris Dooling | Arizona |
| All-League Second Team Outside Linebacker | Brock Price | Oakland |
| All-League Second Team Outside Linebacker | Walter Hernandez | Miami |
| All-League Second Team Cornerback | Raymond Boscarino | Washington |
| All-League Second Team Cornerback | Russell McGrew | Houston |
| All-League Second Team Safety | Ty Brandon | Baltimore |
| All-League Second Team Safety | Stephen Horton | Indianapolis |
| League's Fastest Man | Paul Dunn | New Orleans |
| League's Strongest Man | Chester Prior | Minnesota |