The College Football Playoff committee released its fifth set of rankings Tuesday, the final indicator before the 12-team playoff field is set Sunday.
The bracket is composed of the five highest-ranked conference champions and seven more at-large teams. The top four conference champions receive first-round byes, while the other eight schools will play games at the home sites of the better seeds.
Below you'll find the latest projected bracket with byes and first-round matchups as well as the latest top 25.
12-team bracket
The College Football Playoff expands to 12 teams this season. Learn how it will play out, from the first round through the national championship game on Jan. 20, 2025.
First-round byes
Note: Seeding is based on the CFP top 25.
No. 1 seed Oregon Ducks
No. 2 seed Texas Longhorns
No. 3 seed SMU Mustangs
No. 4 seed Boise State Broncos
First-round matchups (on campus)
No. 9 Tennessee Volunteers at No. 8 Ohio State Buckeyes
Winner plays: No. 1 Oregon
No. 12 Arizona State Sun Devils at No. 5 Penn State Nittany Lions
Winner plays: No. 4 Boise State
No. 11 Alabama Crimson Tide at No. 6 Notre Dame Fighting Irish
Winner plays: No. 3 SMU
No. 10 Indiana Hoosiers at No. 7 Georgia Bulldogs
Winner plays: No. 2 Texas
Top 25
1. Oregon (12-0)
2. Texas (11-1)
3. Penn State (11-1)
4. Notre Dame (11-1)
5. Georgia (10-2)
6. Ohio State (10-2)
7. Tennessee (10-2)
8. SMU (11-1)
9. Indiana (11-1)
10. Boise State (11-1)
11. Alabama (9-3)
12. Miami (10-2)
13. Ole Miss (9-3)
14. South Carolina (9-3)
15. Arizona State (10-2)
16. Iowa State (10-2)
17. Clemson (9-3)
18. BYU (10-2)
19. Missouri (9-3)
20. UNLV (10-2)
21. Illinois (9-3)
22. Syracuse (9-3)
23. Colorado (9-3)
24. Army (10-1)
25. Memphis (10-2)