Saturday 18 December 1954 at Hillsborough (Att 33,102)

Sheffield Wednesday (2) 2 (Sewell 25, Marriott 42): McIntosh, Carter, Seemley, Shaw, McEvoy, Davies, Marriott, Gannon, Hukin, Sewell, Woodhead.
Wolves (1) 2 (Mullen 40, Wilshaw 82): Williams, Stuart, Shorthouse, Slater, Wright, Flowers, Smith, Broadbent, Swinbourne, Wilshaw, Mullen.

Referee: Mr F Cowen (Manchester).
Order of Goals: s,W,s,W.
Position: 1st.