Del Rey Players is a student-run theatre company that produces several shows each year, including a student playwright festival featuring the works of LMU students.  Membership is open to all University students. All aspects of production, from design to stage management and from directing to acting, are done by students.

Del Rey Players has cosponsored senior thesis projects including The Tempest, Arcadia and Closer.  The organization also sponsors a Hollywood workshop, during which members of the Hollywood community share their experiences of show business and give a few tips on how to break into the business.  At the end of the year, Del Rey and Theatre Arts hosts the "Cabaret Awards," the LMU version of the Tony Awards.