Saturday 10 April 1948 at Molineux (Att 24,550)

Wolves (2) 4 (Pye 9 23, Hancocks 56p, Dunn 84): Williams, Kelly, Springthorpe, Chatham, Crook, Hancocks, Dunn, Pye, Smyth, Mullen.
Preston North End (1) 2 (Hannah 1, Wilson 86): Gooch, Walton, Scott, Horton, Williams, Shankly, Anders, McLaren, McIntosh, Hannah, Wilson.

Referee: Mr G Salmon (Stoke-on-Trent).
Order of Goals: p,W,W,W,W,p.
Penalty: Awarded against Ken Horton for bringing down Jimmy Mullen.
International: Wolves were missing Billy Wright and Preston Tom Finney, both helping England – with Finney scoring – beat Scotland 2-0 at Hampden Park.
Position: 6th.