The participants of the 2015 NCAA Division I Football Championship Game were the finalists of the 2014 FCS Playoffs, which began with a 24-team bracket. No. 2 seed North Dakota State and No. 5 seed Illinois State qualified for the final by winning their semifinal games.
Led by first-year head coach Chris Klieman, the Bison finished the regular season 11–1, 7–1 in MVFC play, to earn a conference co-championship (shared with Illinois State) and the No. 2 seed in the FCS Playoffs. North Dakota State defeated unseeded South Dakota State, No. 7 seed Coastal Carolina, and unseeded Sam Houston State to reach the final. The Bison entered the Championship game with a 3–0 record in previous FCS Championships, having won the last three straight.
Led by sixth-year head coach Brock Spack, the Redbirds finished the regular season 10–1, 7–1 in MVFC play, to earn a conference co-championship (shared with North Dakota State) and the No. 5 seed in the FCS Playoffs. Illinois State defeated unseeded Northern Iowa, No. 4 seed Eastern Washington, and No. 1 seed New Hampshire to reach their first-ever final.