After his 1992 season at SDSU, Faulk finished second in the Heisman Trophy award voting, losing to quarterback Gino Torretta in what was considered a notable snub in the history of the award: Torretta's 1992 Miami Hurricanes football team had gone undefeated in the regular season and was ranked No. 1 in the country before the Heisman balloting, Faulk's team finished with a middling 5–5–1 record, continuing a trend of the Heisman going to the most notable player on one of the nation's best teams. ESPN analyst Lee Corso led a campaign supporting Torretta for the Heisman and left Marshall Faulk off of his ballot. Faulk was a Heisman finalist as well in 1991 (9th) and 1993 (4th).