Saturday 21 February 1948 at Molineux (Att 24,105)

Wolves (2) 2 (Dunn 9, Westcott 29): Elliott, Kelly, McLean, Crook, Shorthouse, Wright, Hancocks, Dunn, Westcott, Stevenson, Mynard.
Everton (2) 4 (Eglington 3, Dodds 14 83 86): Sagar, Saunders, Dugdale, Lindley, Jones, Farrell, Grant, Fielding, Dodds, Lello, Eglington.

Referee: Mr W Nixon (Manchester).
Order of Goals: e,W,e,W,e,e.
Landmark: Ex Shrewsbury Town forward Cyril Lello makes his League debut. Jock Dodds first effort is the 200th League goal between the two clubs.
Position: 6th.