The following is a list of all team-to-team transactions that have occurred in the National Hockey League (NHL) during the 1931–32 NHL season. It lists which team each player has been traded to and for which player(s) or other consideration(s), if applicable.
| May 13, 1931 | To Boston Bruins Bud Cook | To Montreal Canadiens cash | [1] [2] |
| August 25, 1931 | To Boston Bruins Joe Jerwa | To New York Rangers Dutch Gainor | [3] |
| September 27, 1931 | To Chicago Black Hawks Paul Thompson | To New York Rangers Art Somers Vic Desjardins | [4] |
| October 18, 1931 | To Detroit Falcons Doug Young | To New York Americans Ronnie Martin | [5] |
| October 19, 1931 | To Detroit Falcons Frank Peters | To New York Rangers cash | [6] |
| October 27, 1931 | To Chicago Black Hawks Gene Carrigan | To New York Rangers cash | [7] |
| December 29, 1931 | To Detroit Falcons Frank Carson Hap Emms | To New York Americans Tommy Filmore Bert McInenly | [8] |
| February 1, 1932 | To Boston Bruins Eddie Jeremiah | To New York Americans cash | [9] |
| February 8, 1932 | To Toronto Maple Leafs Earl Miller | To Chicago Black Hawks cash | [10] |
| April 13, 1932 | To Boston Bruins Billy Burch | To New York Americans cash | [11] |