1929 Országos Bajnokság I (men's water polo) was the 23rd water polo championship in Hungary. There were nine teams who played one round match for the title. It was the first time when teams from outside Budapest also participated in the championship. From this season it is called National Championship.
| Team | M | W | D | L | G+ | G− | P | |
|---|---|---|---|---|---|---|---|---|
| 1. | MAC | 8 | 6 | 1 | 1 | 29 | 7 | 13 |
| 2. | Újpesti TE | 8 | 5 | 3 | 0 | 53 | 13 | 13 |
| 3. | III. ker. TVE | 8 | 5 | 2 | 1 | 36 | 10 | 12 |
| 4. | MTK | 8 | 4 | 3 | 1 | 35 | 13 | 11 |
| 5. | MOVE Eger SE | 8 | 5 | 1 | 2 | 23 | 15 | 11 |
| 6. | Szegedi UE | 8 | 3 | 0 | 5 | 15 | 36 | 6 |
| 7. | Ferencvárosi TC | 8 | 2 | 0 | 6 | 20 | 29 | 4 |
| 8. | BSZKRT SE | 8 | 1 | 0 | 7 | 11 | 43 | 2 |
| 9. | Nemzeti SC | 8 | 0 | 0 | 8 | 3 | 59 | 0 |
* M: Matches W: Win D: Drawn L: Lost G+: Goals earned G−: Goals got P: Point
1. MUE 8, 2. Tatabányai SC 6, 3. Orosházi TK 4, 4. BSE 0(2), 5. Tatatóvárosi AC 0 pont. Penalty points are in brackets.