Saturday 1 January 1949 at Molineux (Att 27,110)

Wolves (1) 2 (Mullen 18 80): Williams, Kelly, Pritchard, W Crook, Shorthouse, Wright, Hancocks, Smyth, Pye, Dunn, Mullen.
Bolton Wanderers (0) 0: Elvy, Roberts, Bates, Howe, Gillies, Barrass, Woodward, Moir, Lofthouse, Bradley, McShane.

Referee: Mr H Wright (Macclesfield).
Position: 7th.