The 1932–33 Serie B was the fourth tournament of this football competition played in Italy since its creation.
Grion Pola, Messina and Sampierdarenese had been promoted from Prima Divisione, while Brescia and Modena had been relegated from Serie A.
The new secretary of the Fascist Party which was appointed in 1933, Achille Starace, was an enemy of the incumbent FIGC’s chairman Leandro Arpinati. He obtained the latter to be fired and arrested by Mussolini after false accusations of infidelity. His hate was so strong that he imposed to the new chairman Giorgio Vaccaro the disbandment of the Serie B round robin, the main creation of Arpinati's sport career. However, the Fascist nationalist ideas denied a return to a north–south division, so a foolish west–east division was introduced, with obvious rising costs considering Italy's shape.