Troy Davis attended Iowa State University, and played for the Iowa State Cyclones football team from 1994 to 1996. He played sparingly his freshman year under Jim Walden but flourished under new head coach Dan McCarney during Davis's final two seasons. Davis set numerous Cyclone team records, including most career rushing yards (4,382), total rushing yards in a single season (2,185), rushing yards in a game (378, vs. Missouri, rushing attempts in a game (53, vs. Northern Iowa, most rushing touchdowns in a game (5, vs. UNLV and vs. Northern Iowa), most 100-yard rushing games in a season (11) and career (21), most 200-yard rushing games in a season (5) and career (9), and most consecutive 100-yard rushing games (17, during 1995 and 1996 seasons), and most consecutive games scoring a touchdown (10, during 1995 and 1996 seasons).
He also held the Iowa State Cyclones football record for most career rushing touchdowns (36) and was tied for first for most career total touchdowns (38). He became the first running back in NCAA Division I-A (now Football Bowl Subdivision) history to gain 2,000 yards in two different seasons. During his three seasons at ISU, the Cyclones finished last in the Big Eight standings in his sophomore and junior seasons and last in the Big 12 North division standings his senior year.
In 1996, Davis was selected as the Big 12 Offensive Player of the Year. He was recognized as a consensus first-team All-American at running back in 1995 and 1996.
Davis finished fifth in voting for the Heisman Trophy in 1995. In 1996, he narrowly finished second to winner Danny Wuerffel. He won three out of four Heisman regions, but lost badly in the South region.
Davis was also nosed out for the Doak Walker Award by another Big 12 running back, Byron Hanspard of Texas Tech. Hanspard edged Davis for the award despite Hanspard earning a 0.00 grade point average during his final season playing for Texas Tech.
However, Davis did win the Jim Brown Award and the Chic Harley Award given to the top running back and best college football player respectively.
He was inducted into the Iowa State Hall of Fame in 2007.
Davis was inducted into the College Football Hall of Fame in 2016.