The conference announced the decision Wednesday after university presidents approved the new moniker earlier in the day.
Conference USA, which is expanding to 14 members even with four leaving for the Big East in 2013, announced its football schedule and new division alignments Wednesday.
The statement says the new conference will likely include 18-24 schools, be split into divisions and not only have a football championship game, but also semifinal games.
J.J. McDermott threw for three touchdowns and Zach Line rushed for three scores to lead SMU to a 45-24 victory against Tulane on Saturday.
The 16th annual Conference USA Tournament is slated to kick off Wednesday from the Don Haskins Center in El Paso, Texas.