Completed in 1991, the Holloway Theatre is a state-of-the-art facility for collegiate theatre productions and the study of the theatre arts. It contains a black box theatre, which can seat up to 150 in proscenium, thrust, and arena style, and ample support facilities, including a rehearsal room, a green room, set and costume workshops, and storage areas. The theatre is the home of the Harlequin Theatre, Arkansas' oldest collegiate theatre organization.

The Holloway Theatre is named in honor of I. Graham Holloway, '80.