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| 18.01.1948 | Real Valladolid | - | Granada CF | 1:0 | ||
| RCD Mallorca | - | Racing Ferrol | 2:0 | |||
| Deportivo La Coruña | - | Levante UD | 4:0 | |||
| CF Badalona | - | CD Málacitano | 3:2 | |||
| CD Castellón | - | Barakaldo CF | 5:0 | |||
| Real Murcia | - | RCD Córdoba | 2:0 | |||
| CD Mestalla | - | Hércules CF | 7:3 |
| » Classement | équipe recevante | à l'extérieur | Premier tour | Second tour |
| # | Équipe | M. | G. | N. | P. | Buts | Diff. | Pts. | |
|---|---|---|---|---|---|---|---|---|---|
| 1 |
|
Real Valladolid | 16 | 10 | 4 | 2 | 33:19 | 14 | 24:8 |
| 2 |
|
Deportivo La Coruña | 16 | 10 | 2 | 4 | 40:17 | 23 | 22:10 |
| 3 |
|
CD Málacitano | 16 | 9 | 1 | 6 | 47:32 | 15 | 19:13 |
| 4 |
|
Hércules CF | 16 | 9 | 0 | 7 | 48:41 | 7 | 18:14 |
| 5 |
|
CD Mestalla | 16 | 7 | 3 | 6 | 36:36 | 0 | 17:15 |
| 6 |
|
CF Badalona | 16 | 7 | 3 | 6 | 42:43 | -1 | 17:15 |
| 7 |
|
Racing Ferrol | 16 | 7 | 2 | 7 | 34:26 | 8 | 16:16 |
| 8 |
|
Real Murcia | 16 | 6 | 4 | 6 | 26:29 | -3 | 16:16 |
| 9 |
|
CD Castellón | 16 | 6 | 2 | 8 | 31:34 | -3 | 14:18 |
| 10 |
|
RCD Mallorca | 16 | 6 | 2 | 8 | 27:43 | -16 | 14:18 |
| 11 |
|
RCD Córdoba | 16 | 5 | 3 | 8 | 23:29 | -6 | 13:19 |
| 12 |
|
Levante UD | 16 | 5 | 2 | 9 | 36:38 | -2 | 12:20 |
| 13 |
|
Barakaldo CF | 16 | 6 | 0 | 10 | 27:48 | -21 | 12:20 |
| 14 |
|
Granada CF | 16 | 4 | 2 | 10 | 23:38 | -15 | 10:22 |
