Monday 29 March 1948 at Molineux (Att 33,840)

Wolves (1) 2 (Wright 2, Smith 90): Williams, Kelly, Springthorpe, Crook, Shorthouse, Chatham, Dunn, Wright, Westcott, Smyth, Mullen.
Sunderland (1) 1 (Shackleton 25): Mapson, Stelling, Hudgell, Scotson, Hall, Wright, Duns, Robinson, Davis, Shackleton, Reynolds.

Referee: Mr W Martin (Leeds).
Order of Goals: W,s,W..