In 1933, Hampden–Sydney College and Randolph–Macon College left the Virginia Conference over a freshman eligibility rule and formed the Chesapeake Conference alongside American University and Bridgewater College. By December 1935, conference membership had dwindled to four schools. A disagreement between The College of William & Mary and Emory and Henry College over football player eligibility prompted the two to cut relations in the sport and exacerbated what conference officials deemed a "rather serious" situation. At the same time, both William & Mary and the University of Richmond were pursuing membership in the Southern Conference. The following year, both were admitted to the Southern Conference, which marked the end of the Virginia Conference.
The following colleges held membership in the Virginia Conference:
|Bridgewater College||Bridgewater, Virginia||1880||Eagles||1929||1932||ODAC|
|Emory & Henry College||Emory, Virginia||1836||Wasps||1928||1935||ODAC|
|Hampden–Sydney College||Hampden Sydney, Virginia||1775||Tigers||1928||1932||ODAC|
|Lynchburg College||Lynchburg, Virginia||1903||Fighting Hornets||1928||1932||ODAC|
|Randolph–Macon College||Ashland, Virginia||1830||Yellow Jackets||1928||1932||ODAC|
|University of Richmond||Richmond, Virginia||1830||Spiders||1928||1935||A–10 (all sports)|
|Roanoke College||Salem, Virginia||1842||Maroons||1929||1935||ODAC|
|College of William & Mary||Williamsburg, Virginia||1693||Indians||1928||1935||CAA|
- Virginia Conference, College Football Data Warehouse, retrieved June 7, 2011.
- Several Upsets Seen On Gridiron's Front, The Palm Beach Post, September 24, 1933.
- Split Seen Fatal in Va. Conference, The Free Lance-Star, December 7, 1935.
- Fletcher Would End Subsidization Rule, Herald-Journal, November 8, 1936.
- The Blue book of college athletics, p. 25, F. Turbyville, 1936.
- On Va. Gridirons, The Free Lance-Star, October 5, 1929.
- Hopkins And St. John's To Discuss Conference, The Baltimore Sun, January 29, 1933.
- Six Conference Games, The Free Lance-Star, December 10, 1929.
- Richmond Historical Data, College Football Data Warehouse, retrieved June 7, 2011.
- Arnold College, Bates Opponent, Ties Conn. Aggies, The Lewiston Daily Sun, September 21, 1931.
- Only One Defeat, The Free Lance-Star, November 4, 1929.