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Michigan has a major rivalry with Ohio State, considered one of the fiercest rivalries in American sports. In a pair of ESPN fan polls, in 2000 and 2003, the Michigan-Ohio State series was voted the greatest rivalry in sports.[5] Michigan's meeting with Ohio State is always the last game of the regular season and has provided many memorable contests, such as the "Snow Bowl" of 1950. The game has frequently decided the Big Ten champion. The contest on November 18, 2006 marked the first time ever these teams had been ranked #1 and #2 going into the game, and the first time they were both undefeated since 1973.

Michigan has an intrastate rival in Michigan State; the schools' football teams compete for the Paul Bunyan Trophy. Michigan also enjoys a spirited rivalry with the Fighting Irish of Notre Dame. Michigan (#1) and Notre Dame (#2) are the top two college football programs in both wins and winning percentage in Division 1-A, so it is perhaps fitting that when college football was in its infancy, students from the University of Michigan travelled to South Bend to teach the game to students there. The schools went on to play each other often in the early years of American college football, and continue do so today. The Wolverines also have a tradition-rich history with the University of Minnesota. The two football teams compete for the Little Brown Jug, a five-gallon jug with the respective schools' "M" on either side and the scores of previous games down the middle. The Little Brown Jug was the first trophy played for between college football teams.