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| 15.02.1948 | Real Murcia | - | CD Mestalla | 2:0 | ||
| Deportivo La Coruña | - | CD Málacitano | 2:0 | |||
| CD Castellón | - | CF Badalona | 3:0 | |||
| RCD Mallorca | - | RCD Córdoba | 5:1 | |||
| Levante UD | - | Racing Ferrol | 5:3 | |||
| Granada CF | - | Barakaldo CF | 3:0 | |||
| Real Valladolid | - | Hércules CF | 2:2 |
| » Stand | Thuis | uit | Heenronde | Returnronde |
| # | Team | GS. | W. | G. | V. | Dp. | Ds. | P. | |
|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
Real Valladolid | 20 | 12 | 5 | 3 | 42:26 | 16 | 29:11 |
| 2 |
|
Deportivo La Coruña | 20 | 12 | 2 | 6 | 49:20 | 29 | 26:14 |
| 3 |
|
CD Málacitano | 20 | 11 | 1 | 8 | 55:40 | 15 | 23:17 |
| 4 |
|
Hércules CF | 20 | 11 | 1 | 8 | 59:49 | 10 | 23:17 |
| 5 |
|
Racing Ferrol | 20 | 9 | 2 | 9 | 48:36 | 12 | 20:20 |
| 6 |
|
Real Murcia | 20 | 8 | 4 | 8 | 33:37 | -4 | 20:20 |
| 7 |
|
Levante UD | 20 | 8 | 3 | 9 | 49:43 | 6 | 19:21 |
| 8 |
|
CD Mestalla | 20 | 8 | 3 | 9 | 44:50 | -6 | 19:21 |
| 9 |
|
CF Badalona | 20 | 8 | 3 | 9 | 49:57 | -8 | 19:21 |
| 10 |
|
CD Castellón | 20 | 8 | 2 | 10 | 41:44 | -3 | 18:22 |
| 11 |
|
RCD Mallorca | 20 | 7 | 3 | 10 | 34:53 | -19 | 17:23 |
| 12 |
|
Granada CF | 20 | 7 | 2 | 11 | 37:46 | -9 | 16:24 |
| 13 |
|
Barakaldo CF | 20 | 8 | 0 | 12 | 33:56 | -23 | 16:24 |
| 14 |
|
RCD Córdoba | 20 | 6 | 3 | 11 | 28:44 | -16 | 15:25 |
