Louisville quarterback Lamar Jackson and Stanford running back Bryce Love were the other finalists.
Oklahoma quarterback Baker Mayfield won the 2017 Heisman Trophy on Saturday night.
Mayfield received 732 of 882 possible first place votes.
Mayfield led the Sooners to a 12–1 record and a College Football Playoff berth. He had 4,340 passing yards and 41 touchdowns with another five on the ground. He had the best completion percentage in the nation (71%).
Stanford running back Bryce Love finished second, while Louisville quarterback and last year's champion Lamar Jackson was third.
Jackson won the award last year after recording 3,390 passing yards, 1,538 rushing yards and 51 total touchdowns in his sophomore season. He was the first quarterback in NCAA history to reach 3,300 passing yards and 1,500 rushing yards in one season. He tossed for 3,489 yards and 25 scores while running for 1,443 and 17 touchdowns this season.
Love was the face of the Stanford offense, helping get the Cardinal to 9–4 this season. The junior is second in the nation with 1,973 yards and his 8.3 yards per carry is the fourth best among qualified runners.