Saturday 18 September 1948 at Molineux (Att 51,637)

Wolves (1) 2 (Hancocks 44, Mullen 56): Williams, McLean, Springthorpe, Wright, Simpson, Forbes, Hancocks, Dunn Pye, Smyth, Mullen.
Derby County (0) 2 (Steele 49, Harrison 68): Townsend, Mozley, Howe, Ward, Leuty, Musson, Harrison, Stamps, Thompson, Steele, Broome.

Referee: Mr G Iliffe (Leicester).
Order of Goals: W,d,W,d.
Landmark: Johnny Hancocks net the 2000th home goal scored by Wolves in the Football League.
Position: 9th.