Saturday 27 February 1954 at Molineux (Att 38,592)

Wolves (2) 3 (Broadbent 5, Wilshaw 20, Slater 87): Williams, Short, Shorthouse, Slater, Wright, Flowers, Hancocks, Broadbent, Swinbourne, Wilshaw, Mullen.
Newcastle United (0) 2 (Milburn 80, Broadis 85): Simpson, Cowell, McMichael, Stokoe, Brennan, Casey, Foulkes, Broadis, Milburn, Hannah, Mitchell.

Referee: Mr F Thurman (Preston).
Order of Goals: W,W,n,n,W.
Injury: Bill Slater was knocked unconscious scoring the winner.
Position: 2nd.