Saturday 23 November 1946 at Deepdale (Att 29,525)

Preston North End (1) 2 (Wharton 40, McIntosh 70): Gooch, A Beattie, Scott, Shankly, Williams, Hamilton, Finney, Garth, McIntosh, R Beattie, Wharton.
Wolves (1) 2 (Forbes 30 52): Williams, McLean, Crook, Galley, Cullis, Wright, Hancocks, Pye, Westcott, Forbes, Mullen.

Referee: Mr W Evans (Liverpool).
Order of Goals: W,p,W,p.
Landmark: Willie Forbes nets his first senior goals.
Position: 2nd.