Franklin carried the ball 29 times, while redshirt freshman quarterback Brett Hundley passed for a touchdown and ran for two more as the Bruins (9-2, 6-2 Pac-12) clinched the South Division crown with only their second win in 14 meetings against USC.
UCLA's defense played a big part in the victory with five sacks, two interceptions, a recovered fumble and a late blocked kick.
Matt Barkley went 20-of-38 through the air for 301 yards and three touchdowns for the Trojans (7-4, 5-4), but was picked off twice in the loss.
Marqise Lee led the USC receiving corps with nine catches for 158 yards and a touchdown.
Swim Week Miami Beach 2014 [PHOTOS]