How many NCAA division 1 teams are there?

Answer 1

Since the question is posted in "College Football"

As of 2012 there are a total of 124 (120 full members, 4 transitional) teams.

The newest members:

Massachusetts Minutemen

South Alabama Jaguars

Texas State Bobcats

UTSA Roadrunners

Three new members making the transition:

Georgia State Panthers: 2013

Charlotte 49ers: 2015

Old Dominion Monarchs: 2015

Answer 2

That info is at this site:

http://web1.ncaa.org/stats/StatsSrv/ranksummary

I count 329 teams in 43 conferences.

Answer 3

I'm going to say 329 as of 28 Nov 2008 since that's how many are listed in the NCAA RPI (power index) at: http://web1.ncaa.org/app_data/weeklyrpi/2008WVBrpi1.html .