| Award | Player | Team |
| Player of the Year | John Elway | Denver |
| Front Office Bowl MVP | David Archer | Washington |
| Coach of the Year | Kirk Crownover | Memphis |
| Legend of the Game | Doug Smith | Denver |
| Offensive Player of the Year | John Elway | Denver |
| Defensive Player of the Year | Riki Ellison | Baltimore |
| Offensive Rookie of the Year | Barry Sanders | Birmingham |
| Defensive Rookie of the Year | Stevon Moore | Buffalo |
| All-League First Team Quarterback | John Elway | Denver |
| All-League First Team Running Back | Jeff Smith | Seattle |
| All-League First Team Fullback | Buford McGee | Memphis |
| All-League First Team Tight End | Sam Bowers | Philadelphia |
| All-League First Team Wide Receiver | Sterling Sharpe | Detroit |
| All-League First Team Wide Receiver | Jerry Rice | Tampa Bay |
| All-League First Team Center | Gerry Feehery | Cleveland |
| All-League First Team Offensive Guard | Randall McDaniel | Seattle |
| All-League First Team Offensive Guard | Jesse Sapolu | San Francisco |
| All-League First Team Offensive Tackle | Joe Jacoby | Washington |
| All-League First Team Offensive Tackle | Bryan Millard | Minnesota |
| All-League First Team Punter | Max Runager | San Francisco |
| All-League First Team Kicker | Tony Franklin | Pittsburgh |
| All-League First Team Defensive End | Richard Dent | San Diego |
| All-League First Team Defensive End | Chris Doleman | Green Bay |
| All-League First Team Defensive Tackle | David Galloway | Kansas City |
| All-League First Team Defensive Tackle | Tim Krumrie | Cincinnati |
| All-League First Team Inside Linebacker | Matt Millen | Seattle |
| All-League First Team Outside Linebacker | Riki Ellison | Baltimore |
| All-League First Team Outside Linebacker | Andre Tippett | New England |
| All-League First Team Cornerback | William Judson | San Diego |
| All-League First Team Cornerback | Nate Odomes | Houston |
| All-League First Team Safety | Joey Browner | Minnesota |
| All-League First Team Safety | Dennis Smith | Denver |
| All-League Second Team Quarterback | Dan Marino | Miami |
| All-League Second Team Running Back | Eric Dickerson | Los Angeles |
| All-League Second Team Fullback | Larry Kinnebrew | Washington |
| All-League Second Team Tight End | Pete Metzelaars | Seattle |
| All-League Second Team Wide Receiver | Andre Reed | Houston |
| All-League Second Team Wide Receiver | Trumaine Johnson | Jacksonville |
| All-League Second Team Center | Fred Quillan | San Francisco |
| All-League Second Team Offensive Guard | Mike Knight | Los Angeles |
| All-League Second Team Offensive Guard | Bruce Matthews | Houston |
| All-League Second Team Offensive Tackle | D.J. Fong | Los Angeles |
| All-League Second Team Offensive Tackle | Luis Sharpe | St. Louis |
| All-League Second Team Punter | Tommy Barnhardt | New York |
| All-League Second Team Kicker | Benny Ricardo | Philadelphia |
| All-League Second Team Defensive End | Mark Gastineau | New York |
| All-League Second Team Defensive End | Leslie O'Neal | New York |
| All-League Second Team Defensive Tackle | Bill Maas | Houston |
| All-League Second Team Defensive Tackle | Tim Goad | Chicago |
| All-League Second Team Inside Linebacker | Johnny Rembert | New England |
| All-League Second Team Outside Linebacker | Kevin Greene | Atlanta |
| All-League Second Team Outside Linebacker | Greg Lloyd | Pittsburgh |
| All-League Second Team Cornerback | Cedric Mack | Cincinnati |
| All-League Second Team Cornerback | Tate Randle | Tampa Bay |
| All-League Second Team Safety | Carlton Williamson | San Francisco |
| All-League Second Team Safety | Leonard Smith | Cincinnati |
| League's Fastest Man | Nate Odomes | Houston |
| League's Strongest Man | Irv Eatman | Arizona |