The program's achievements have included one NCAA-recognized national championship, nine ACC championships, two Southern Conference championships, eleven consensus All-Americans, several Hall of Fame inductees, and twenty-three bowl game appearances. Maryland possesses the third-most ACC championships with nine, which places them behind Clemson (13) and Florida State (12). Many former Terrapins players and coaches have gone on to careers in professional football including 15 first-round NFL Draft picks.

The first officially recognized football team was fielded in 1892, and excluding a brief hiatus in 1895, Maryland has competed in college football each season since. Harry C. "Curley" Byrd, a student-athlete at Maryland, became head football coach in 1911 and served in that role for two decades before he became the university president. The Terrapins had consistent on-field success between 1947 and 1953. Maryland then suffered a period of mediocrity, until 1972, when the program again rose to national prominence. The football program underwent another period of lackluster performance beginning in 1987 and lasting until 2001, when Ralph Friedgen was hired as head coach and engineered a first-year turnaround that culminated in a conference championship. In the following years, the Terrapins made regular postseason appearances, but have been unable to match the success of Friedgen's first season.

In 1892, the school then known as the Maryland Agricultural College fielded its first officially-sanctioned college football team. They went scoreless in all three of that season's games, but the following year, posted a perfect record of 6–0. For the first two decades of the program, the team primarily competed against local universities and high schools due to the prohibitive nature of long-distance travel at the time.

In 1911, Harry C. "Curley" Byrd became head coach and held that position for more than two decades until he was named the university president. In 1921, Maryland joined the Southern Conference where it remained for thirty years. Between 1935 and 1946, the school had several coaches that achieved fame elsewhere: Frank Dobson, a former assistant coach under John Heisman; Clark Shaughnessy, architect of Stanford's undefeated 1940 turnaround; and Paul "Bear" Bryant, who later became the long-time Alabama head coach. Bryant resigned after one season when a player he had suspended was reinstated by President Byrd.

Jim Tatum was hired in 1947, after a brief stint at Oklahoma where he had led the Sooners to a conference championship in his only season there. He was Maryland's sixth head coach in eight years, but Tatum stayed for nine seasons and became the school's most successful head coach in modern history. During his tenure, he led Maryland to two national championships (one retroactive), three conference championships, three perfect seasons, six top-20 final rankings, and five bowl game appearances. Seven of his players were named first-team All-Americans, including five consensus All-Americans. Under Tatum, Maryland finished every season with a winning record.

After the 1947 season, the Terrapins participated in their first bowl game, the 1948 Gator Bowl, in which they tied Georgia, 20–20. NCAA season-scoring leader Lu Gambino recorded all three Maryland touchdowns. In 1949, Maryland again played in the Gator Bowl, where they defeated 20th-ranked Missouri, 20–7. The Terrapins finished the season ranked 14th by the Associated Press. Maryland's current home field, Byrd Stadium, was constructed in 1950, and named in honor of former coach and contemporary Maryland president Curly Byrd. Maryland started the 1950 season ranked 15th and defeated Navy, 35–21, in the Byrd Stadium dedication game.

The Terrapins won the 1951 Southern Conference co-championship alongside the Virginia Military Institute. Their perfect season culminated with an upset over first-ranked Tennessee in the 1952 Sugar Bowl. At the time, however, the wire services released their final rankings before the bowl games, and Maryland finished third in the Associated Press Poll. Several selectors, including analyst Jeff Sagarin, have retroactively credited Maryland with the national championship. In 1953, Maryland and six other schools split from the Southern Conference to form the Atlantic Coast Conference. That year, Maryland shut-out two 11th-ranked teams: Mississippi, 38–0, and Alabama, 21–0, won the ACC co-championship alongside Duke, and were named the national champions as the only undefeated and untied team in the nation. The Terrapins were defeated by fourth-ranked Oklahoma in the Orange Bowl. After the 1955 season, Tatum resigned to return to North Carolina, where he soon died of Rocky Mountain spotted fever.

The Terrapins entered 1956 ranked number-six, but after the departure of Tatum, they suffered their first losing season in a decade. It marked the beginning of a long undistinguished period of Maryland history, and between 1956 and 1971, they compiled a record of 50–100–1 and only three winning seasons. In 1967, they suffered their first and only winless season in 75 years. High points during this period included victories over 14th-ranked North Carolina in 1957, 11th-ranked Clemson in 1959, eighth-ranked Clemson in 1960, and seventh-ranked Syracuse in 1961. In 1962, assistant coach Lee Corso convinced African-American wide receiver Darryl Hill to transfer from the Naval Academy. Hill broke the color barrier in football at four institutions: Gonzaga High School, the Naval Academy, Maryland, and the ACC. In 1965, back Bob Sullivan led the nation with 10 interceptions.

In 1972, Jerry Claiborne took over as head coach of the Terrapins, which had only nine wins in the past five years. In his first season, Maryland improved to 5–5–1, and the following year, they reached their first bowl game in almost two decades. The team steadily improved until his fifth season, 1976, when they finished the regular season with an 11–0 record, their first perfect mark since Tatum's 1955 squad. Boomer Esiason later described Claiborne's coaching style as "vanilla", and said his strategy was "run right, run left, run up the middle, punt, and play good defense." He went on to say, "But, there's no question he made me a tougher player . . . We'd do drills where the quarterback had to take on a linebacker. It was like he had a sign on our back, 'Hit us, we're stupid'. It made you a tougher player."

In 1974, Maryland had a pre-season rank of 14th and later beat 17th-ranked NC State to win the ACC championship. The Terrapins were defeated by 20th-ranked Tennessee in the Liberty Bowl and finished the season ranked 13th. In 1975, Maryland again won the ACC and defeated 13th-ranked Florida in the Gator Bowl to finish 13th in the nation. That season, the Terrapins led the ACC in total offense with 375.2 yards per game. Maryland started 1976 ranked 12th, and quarterback Mark Manges led them to eleven consecutive wins to secure their third straight ACC championship. Maryland's loss to sixth-ranked Houston in the Cotton Bowl Classic, 30–21, ended any hopes for a national championship.