Wednesday 24 August 1949 at The Valley (Att 33,925)

Charlton Athletic (2) 2 (O’Linn 12, Lumley 23): Bartram, Campbell, Lock, Forbes, Phipps, Brown, Hurst, O’Linn, Vaughan, T Lumley, Revell.
Wolves (0) 3 (Wright 50, Pye 54, Forbes 60): Williams, Kelly, Pritchard, Crook, Shorthouse, Wright, Hancocks, Smyth, Pye, Forbes, Mullen.

Referee: Mr E Baker (Manchester).
Position: 3rd.