Founded in 1956, USF is the fourth-largest public university in the state of Florida, with a total enrollment of 47,646 as of the 2012–2013 academic year.The USF system comprises three institutions: USF Tampa, USF St. Petersburg and USF Sarasota-Manatee. Each institution is separately accredited by the Commission on Colleges of the Southern Association of Colleges and Schools.The university is home to 14 colleges, offering over 80 undergraduate majors and more than 130 graduate, specialist, and doctoral-level degree programs.

USF is classified by the Carnegie Foundation for the Advancement of Teaching in the top tier of research universities, and is among three other universities in Florida to hold this highest level of classification. In its 2011 ranking, the Intellectual Property Owners Association placed USF 10th among all universities worldwide in the number of US patents granted. The university has an annual budget of $1.5 billion and an annual economic impact of over $3.7 billion.In a ranking compiled by the National Science Foundation, USF has the 50th-highest research expenditure in the United States and in the state of Florida only trails the University of Florida.

USF ranks in the top 100 best public schools in the 2012 Best Colleges edition of U.S. News & World Report.In 2012, the university was also ranked eighth among "up and coming" universities by U.S. News & World Report. USF was named a national leader in online education by Guide to Online Schools.USF graduate level programs – including Public Health, Library and Information Studies, Education, and Criminology – continue to rank among the nation's 50 best in the U.S. News & World Report graduate school rankings.