Brandon Richardson hit a pair of free throws with 7.2 seconds left to seal Nebraska's 70-67 win over No. 2 Texas on Saturday.
Nebraska hadn't beaten a team ranked in the top three since knocking off No. 3 Missouri 98-91 in the 1994 Big Eight Conference tournament.
"Man, what a great game," coach Doc Sadler said. "How can you not be excited? It's a great day for us."
Nebraska's second win over a Top 25 opponent this season broke Texas' school record Big 12 winning streak at 11 games. Nebraska downed then-No. 11 Texas A&M 57-48 on Jan. 29.