The university said Monday that the number of applicants is 19 percent higher than the previous record of nearly 22,000, set last year.
Applications to Princeton have increased by 91 percent over the past six years.
The spike follows Princeton's move to a "need blind" admissions process. Instead of loans, Princeton provides aid through grants that don't have to be repaid.
Seventy-four percent of this year's applicants indicated that they intend to apply for financial aid.
The university plans to enroll 1,300 freshmen in the fall as it moves toward a goal of enrolling 5,200 undergraduate students by the 2012-13 academic year.
