Dexter Pittman's follow shot after his rebound with 12 seconds left gave Texas a three-point advantage and Oklahoma's Tony Crocker missed a 3-point attempt on the ensuing possession as the Longhorns pulled off the upset in Austin.
A.J. Abrams hit a 3-pointer with 1:13 to play to give the Longhorns a 69-65 lead.
Abrams was fouled after OU's missed 3-pointer and made two free throws with 3 seconds to play for the final margin. Pittman's basket had given Texas a 71-68 lead.
Oklahoma star Blake Griffin left the game late in the first half and didn't return to the game.
Willie Warren, a freshman from North Crowley, scored 27 points for the Sooners, hitting 10 of 20 from the field, including 6-of-12 on 3-pointers. Abrams led the Longhorns with 23.
Read more about Abrams' amazing game here.