In the second week of the 2006 season, Smith and the Buckeyes took revenge for their 2005 loss to Texas. The top ranked Buckeyes won their rematch with the (again) second-ranked Longhorns, 24-7. Smith went 17-27 with 269 yards passing, two touchdowns, and no interceptions. For many fans and analysts, Smith's performance against the Longhorns gave credibility to the preseason Heisman Trophy hype he'd received. His passing statistics improved during the 2006 season, completing 67% of his passes for 2,507 yards, with 30 touchdowns and five interceptions. This led to a quarterback rating of 167.87, again fourth in the country.
Troy Smith, the 6-foot 1-inch 215 pound quarterback from Cleveland captured Ohio State's seventh Heisman Trophy. He joins the elite company of Les Horvath (1944), Vic Janowicz (1950), Howard "Hopalong" Cassady (1955), Archie Griffin (1974 & 1975), and Eddie George (1995) as a winner of the Heisman Trophy from the Ohio State University. Smith received 801 first-place votes and won the Heisman by 1,662 points, both of which are the second-best in the history of the award. During Smith's senior year campaign, he threw for a school-record thirty (30) touchdowns while securing a spot for his Buckeyes in the BCS National Championship Game. Following his senior season, he was also awarded the Walter Camp Award, Davey O'Brien Award, AP Player of the Year, Sporting News Player of the Year, and Big Ten Offensive Player of the year.
He beat out sophomore RB Darren McFadden (2nd) from Arkansas and senior QB Brady Quinn (3rd), from Notre Dame.
With Smith at QB, Ohio State lost only two games in the 2005 regular season, and in only one of those, was Smith the starter. The first was to the eventual BCS National Champion Texas Longhorns (which he did not start) and the other was to the Penn State Nittany Lions, co-Big Ten champions. Smith's 2005 stats included 2,282 passing yards with 16 touchdowns and four interceptions. This led to a passer rating of 162.66, the fourth-highest of the season. He rushed for 611 yards and 11 touchdowns on 136 carries. In January 2006, he was named the Offensive MVP of the Fiesta Bowl, after leading the Buckeyes to a 34-20 win over the Notre Dame Fighting Irish.