| National Challenge Cup | |
| Year: | 1932 |
| Country: |  United States |
| Dates: | 27 December 1931- 2 April 1932 |
| Defending Champions: | Fall River F.C. |
| Winners: | New Bedford Whalers |
| Count: | 1 |
| Second: | Stix, Baer and Fuller |
| Semifinal1: | Bricklayers FC |
| Semifinal2: | New York Giants |
| Prev Season: | 1931 |
| Next Season: | 1933 |
The 1932 National Challenge Cup was the annual open cup held by the United States Football Association now known as the Lamar Hunt U.S. Open Cup.
a) aggregate after 3 games, Stix advance 2 games to 1