The 1923 Oregon Agricultural Aggies football team represented Oregon Agricultural College (OAC)—now known as Oregon State University—as a member of the Northwest Conference and the Pacific Coast Conference (PCC) during the 1923 college football season. In their fourth and final season under head coach Red Rutherford, the Aggies compiled an overall record of 4–5–2 were outscored 71 to 55. Oregon Agricultural had a record of 2–2–1 in Northwest Conference play, placing in a three-way tie for third place, and 1–3–1 against PCC opponents, tying for sixth place.[1] Tackle Percy Locey was the team captain.[2] The team played home games on campus, at Bell Field in Corvallis, Oregon.
In January 1924, coach Rutherford resigned as the school's football coach and director of athletics, effective at the end of his contract July 1. According to the Corvallis Gazette-Times, it had been "an open secret" that the alumni had been active in opposing Rutherford's retention.[3] In four seasons under Rutherford, the Aggies had an overall record of 13–14–6 (.485) and were 4–10–3 (.324) in conference play.