The College Football Playoff teams will play for the national championship.
The Big Ten will have two teams in the playoffs for the first time in nine years, thanks to USC's loss in the conference title game.
Georgia will face Ohio State in the Peach Bowl on New Year's Day.
The AT&TCFP National Championship presented by AT&T will take place in January.
Georgia is a 7-point favorite over Ohio State and Michigan is a 9-point favorite over TCU.
The Frogs lost in overtime in the Big 12 title game. The fifth and sixth teams to make the College Football Playoff are the Horned Frogs and Ohio State.
After the loss, the coach of the Frogs was concerned about his team's playoff status, but he had faith in the committee.
"I believe we're deserving," he said.
At a watch party for the Frogs at its Fort Worth, Texas, campus, cheers broke out when the Frogs made the tournament.
Alabama was hoping to make a jump into the top four following the losses of USC and TCU.
Would we be the favorite or the underdog if we played any of the teams that are on the verge of getting in? The Big Ten championship was on Fox at the time.
The committee ranked the Alabama team fifth.
Boo Corrigan, the athletic director at NC State, said that Ohio State's wins over Penn State and Notre Dame pushed them over Alabama.
The committee was comfortable with Ohio State and Alabama being in the top five.
Two teams are in the playoffs for the second year in a row. They will look to become the fourth team to win the CFP with an perfect record after winning their conference title games.
The only time Georgia and Ohio State have met was in 1992. The only national title that Texas Christian University has ever won was in 1938.
The committee didn't try to prevent a repeat of Ohio State and Michigan in the semifinals. In a rivalry that dates back to 1901, the Ohio State and Michigan have never played outside of their regular season game.
The AP contributed.