He threw for 3,060 yards this season, completed 57 percent and had 19 touchdown passes with only seven interceptions. He already has won the Maxwell and Walter Camp awards as the best college player, and is favored to win the Heisman Trophy on Saturday.
Faulk and Jones are the only repeaters from last year's first team.
Faulk was the nation's leading rusher for the second consecutive season and became only the second major college player to gain more than 3,000 yards in his first two years.
The first was Georgia's Herschel Walker, who is also the only other player since World War II to make the AP first team as a freshman and sophomore. Despite missing 2 1/2 games due to injury, Faulk gained 1,630 yards this season and finished third in scoring with 15 touchdowns.
Jones won the Lombardi Award as the country's top lineman and is a finalist for the Butkus Award, which goes to the best linebacker. He led the Seminoles with 111 tackles, including three sacks and seven others behind the line of scrimmage.
Joining Torretta and Faulk in the backfield is Georgia's Garrison Hearst. He was second in rushing with 1,547 yards and first in scoring with 21 touchdowns, which broke Walker's Southeastern Conference record. He averaged 6.8 yards per carry, third among 1,000-yard rushers.
The all-purpose back is Stanford's Glyn Milburn, who was second in all-purpose yardage (177 per game) and third in punt returns with an 18.5 average and three touchdowns.
The wide receivers are Sean Dawkins of California and O.J. McDuffie of Penn State, and the tight end is Chris Gedney of Syracuse.
The defensive line features a pair of ends from Alabama's top-rated unit, Eric Curry and John Copeland.
They are joined by linemen Rob Waldrop of Arizona and Chris Slade of Virginia; linebackers Jones, Micheal Barrow of Miami and Marcus Buckley of Texas A&M; and backs Ryan McNeil of Miami, Carlton McDonald of Air Force, Deon Figures of Colorado and Carlton Gray of UCLA.
Quarterback Gino Torretta, Miami, 6-3, 205, senior, Pinole, Calif.
Running backs Marshall Faulk, San Diego State, 5-10, 200, sophomore, New Orleans; Garrison Hearst, Georgia, 5-11, 202, junior, Lincolnton, Ga.
Wide receivers Sean Dawkins, California, 6-4, 205, junior, Sunnyvale, Calif.; O.J. McDuffie, Penn State, 5-11, 185, senior, Warrensville Heights, Ohio.
Tight end Chris Gedney, Syracuse, 6-5, 256, senior, Liverpool, N.Y.
Center Mike Compton, West Virginia, 6-7, 289, senior, Richlands, Va.
Guards Will Shields, Nebraska, 6-1, 305, senior, Lawton, Okla.; Aaron Taylor, Notre Dame, 6-4, 294, junior, Concord, Calif.
Tackles Lincoln Kennedy, Washington, 6-7, 325, senior, San Diego; Everett Lindsay, Mississippi, 6-5, 290, senior, Raleigh, N.C.
All-purpose Glyn Milburn, Stanford, 5-9, 175, senior, Santa Monica, Calif.
Placekicker Joe Allison, Memphis State, 6-0, 184, junior, Atlanta.
Linemen Eric Curry, Alabama, 6-6, 265, senior, Thomasville, Ga.; John Copeland, Alabama, 6-3, 261, senior, Lanett, Ala.; Rob Waldrop, Arizona, 6-2, 265, junior, Phoenix; Chris Slade, Virginia, 6-5, 235, senior, Tabb, Va.
Linebackers Marvin Jones, Florida State, 6-2, 230, junior, Miami; Micheal Barrow, Miami, 6-2, 230, senior, Homestead, Fla.; Marcus Buckley, Texas A&M, 6-4, 230, senior, Fort Worth, Texas.
Backs Ryan McNeil, Miami, 6-2, 185, senior, Fort Pierce, Fla.; Carlton McDonald, Air Force, 6-0, 185, senior, Jacksonville, Fla.; Deon Figures, Colorado, 6-1, 195, senior, Compton, Calif.; Carlton Gray, UCLA, 6-0, 194, senior, Cincinnati.
Punter Sean Snyder, Kansas State, 6-1, 190, senior, Greenville, Texas.
Quarterback Marvin Graves, Syracuse.
Running backs Reggie Brooks, Notre Dame; Trevor Cobb, Rice.
Wide receivers Lloyd Hill, Texas Tech; Michael Westbrook, Colorado.
Tight end Coleman Bell, Miami.
Center Steve Everitt, Michigan.
Guards Stacy Seegars, Clemson; Joe Cocozzo, Michigan.
Tackles Willie Roaf, Louisiana Tech; Tony Boselli, Southern Cal.
All-purpose Ryan Benjamin, Pacific.
Placekicker Scott Sisson, Georgia Tech.
Linemen Chris Hutchinson, Michigan; Dana Stubblefield, Kansas; Coleman Rudolph, Georgia Tech; Albert Fontenot, Baylor.
Linebackers Darrin Smith, Miami; Dave Hoffman, Washington; Travis Hill, Nebraska.
Backs Patrick Bates, Texas A&M; George Teague, Alabama; Corey Sawyer, Florida State; Mike Reid, North Carolina State.
Punter Ed Bunn, Texas-El Paso.
Quarterback Charlie Ward, Florida State.
Running backs Chuckie Dukes, Boston College; Greg Hill, Texas A&M.
Wide receivers Lamar Thomas, Miami; Derrick Alexander, Michigan.
Tight end Troy Drayton, Penn State.
Center Randall Parsons, North Carolina.
Guards Mike Gee, North Carolina State; Fletcher Keister, Oregon State.
Tackles Alec Millen, Georgia; Ben Coleman, Wake Forest.
All-purpose Curtis Conway, Southern Cal.
Placekicker Nelson Welch, Clemson.
Linemen Todd Kelly, Tennessee; Shante Carver, Arizona State; Jeff Zgonina, Purdue; Ricky Logo, North Carolina State.
Linebackers Brett Wallerstedt, Arizona State; Ron George, Stanford; Curt McMillan, Miami (Ohio).
Backs Tom Carter, Notre Dame; George Coghill, Wake Forest; John Lynch, Stanford; Antonio Langham, Alabama.
Punter Jason Elam, Hawaii.