The 1923 Vanderbilt Commodores football team represented Vanderbilt University in the sport of college football during the 1923 Southern Conference football season. The team's head coach was Dan McGugin, who served his 19th year in that capacity. The Commodores played six home games at Dudley Field in Nashville, Tennessee. Vanderbilt finished the season with a record of 5–2–1 overall and 3–0–1 in SoCon play, outscoring opponents 137–33. The team suffered its losses to the national champion Michigan Wolverines and the undefeated Texas Longhorns.

Daniel Earle McGugin was an American college football player and coach, as well as a lawyer. He served as the head football coach at Vanderbilt University in Nashville, Tennessee from 1904 to 1917 and again from 1919 to 1934, compiling a record of 197–55–19. He is the winningest head coach in the history of the university. McGugin was inducted into the College Football Hall of Fame as a coach in 1951 as part of its inaugural class. He was the brother-in-law of University of Michigan coach Fielding H. Yost.