A local television station reports that members of the Phi Gamma Delta fraternity found the head last week and reported it to authorities.
Phi Gamma Delta President Javier Manriquez says that after he saw the head, he took a photo of it and threw it out.
Manriquez says there was a note attached to the partially-skinned goat head. He says the note had the word "done" written on it with a heart over the letter "o."
According to University of New Mexico police, the goat head looked like it was bought at a store.
No arrests have been made.