1931 Országos Bajnokság I (men's water polo) was the 25th water polo championship in Hungary. There were nine teams who played match for the title.
| Team | M | W | D | L | G+ | G− | P | |
|---|---|---|---|---|---|---|---|---|
| 1. | Újpesti TE | 8 | 8 | 0 | 0 | 61 | 13 | 16 |
| 2. | III. ker. TVE | 8 | 7 | 0 | 1 | 32 | 5 | 14 |
| 3. | MAC | 8 | 5 | 1 | 2 | 48 | 15 | 11 |
| 4. | MOVE Eger SE | 8 | 5 | 0 | 3 | 25 | 15 | 10 |
| 5. | MTK | 8 | 4 | 1 | 3 | 30 | 16 | 9 |
| 6. | Szegedi UE | 8 | 2 | 1 | 5 | 19 | 29 | 5 |
| 7. | Ferencvárosi TC | 8 | 2 | 1 | 5 | 18 | 34 | 5 |
| 8. | BSZKRT SE | 8 | 1 | 0 | 7 | 6 | 45 | 2 |
| 9. | Nemzeti SC | 8 | 0 | 0 | 8 | 7 | 74 | 0 |
* M: Matches W: Win D: Drawn L: Lost G+: Goals earned G−: Goals got P: Point