| Season: | 1927 |
| Dates: | 22 May 1927 – 25 December 1927 |
| Winners: | Alianza Lima 3rd Primera División title |
| Nextseason: | 1928 |
The 1927 Primera División was the 12th season of top-flight Peruvian football. A total of 8 teams competed in the league, with Sport Progreso as defending champion. Alianza Lima won its third Primera División title.[1] [2] Many matches were not played.
The Association FBC merged with the club Unión Ciclista Peruana in September 1927[3] to form the Ciclista Lima Association. The merger occurs around the month of May 1927. Therefore, the football matches played before that month were kept under the name of Association Football Club.
For the 1927 season, 8 teams played in the league, a 3-team reduction from the previous season. No relegation took place in this season.
Jorge Chávez, Teniente Ruiz, Deportivo Nacional, Jorge Washington and Sport José Gálvez were relegated. They were replaced by Association FBC (reinstated) and Association Alianza as 1926 División Intermedia champion.
The following list is the known results according to what was published in the newspapers El Comercio, La Prensa and La Crónica.Teams play each other once, either home or away. All matches were played in Lima.
The round was played on 22 May 1927.|-|-|}
The round was played on 29 May 1927.|-|-|}
The round was played on 11 June 1927.|-|-|}
The round was played on 12 June 1927.|-|-|}
The round was played on 19 June 1927.|-|-|}
The round was played on 26 June 1927.|-|-|}