Texas Tech quarterback Graham Harrell, the frontrunner in the race, played the entire game despite the point differential and threw for 361 yards on 33-for-55 passing and three touchdowns.
Red Raiders receiver Michael Crabtree, another top candidate, had six receptions for 62 yards.
OU quarterback Sam Bradford was 14-for-19 passing for 304 yards and four touchdowns. He was taken out of the game with 10:50 left.
Bradford has thrown a school-record 42 touchdown passes this season.
The Sooners' balanced attack of 625 total offensive yards also featured 125 yards rushing (110 in the first half) and two touchdowns from sophomore running back DeMarco Murray, plus 108 yards rushing and three touchdowns from backup Chris Brown.
While holding Texas Tech nearly 27 points below its season scoring average of 47.9, the Sooners collected four quarterback sacks.
The Red Raiders entered the game having allowed just five all season.
Texas Tech's Mike Leach, who served as the Sooners' offensive coordinator in the 1999 season, is now 0-5 on Owen Field as the Red Raiders' coach and has lost by average margin of 42.8-18.0.
OU overcame 11 penalties for 96 yards.