Saturday 21 August 1954 at Molineux (Att 44,753)

Wolves (2) 4 (Swinbourne 27 56, Mullen 39, Wilshaw 46): Williams, Stuart, Pritchard, Slater, Shorthouse, Wright, Hancocks, Broadbent, Swinbourne, Wilshaw, Mullen.
Sheffield Wednesday (1) 2 (Finney 40, Curtis 65p): McIntosh, Kenny, Curtis, Gannon, O’Donnell, Davies, Finney, Quixall, Shaw, Sewell, Woodhead.

Referee: Mr F Cowen (Manchester).
Order of Goals: W,W,s,W,W,s.
Penalty: Awarded against Roy Pritchard for bringing down Tom Finney.
Position: 6th.