| Competition: | Segunda División |
| Season: | 1934–35 |
| Winners: | Hércules CF |
| Promoted: | Hércules CF CA Osasuna |
| Relegated: | Racing de Ferrol CD Logroño Sport La Plana |
| Matches: | 181 |
| Total Goals: | 651 |
| Prevseason: | 1933–34 |
| Nextseason: | 1935–36 |
The 1934–35 Segunda División season saw 24 teams participate in the second flight Spanish league. Hércules and Osasuna were promoted to Primera División. Racing Ferrol, Logroño and Sport La Plana were relegated to Regional.
| Club | City | Stadium | |
|---|---|---|---|
| Baracaldo FC | Baracaldo | Lasesarre | |
| Celta de Vigo | Vigo | Balaídos | |
| Deportivo de La Coruña | La Coruña | Riazor | |
| CD Nacional de Madrid | Madrid | El Parral | |
| Racing Ferrol FC | Ferrol | Inferniño | |
| Sporting de Gijón | Gijón | El Molinón | |
| Stadium Club Avilesino | Avilés | Las Arobias | |
| Club Valladolid Deportivo | Valladolid | Sociedad Taurina |
| Club | City | Stadium | |
|---|---|---|---|
| FC Badalona | Badalona | Sant Adrià | |
| Girona FC | Gerona | Vista Alegre | |
| CE Júpiter | Barcelona | Lope de Vega | |
| CD Logroño | Logroño | Las Gaunas | |
| CA Osasuna | Pamplona | San Juan | |
| CS Sabadell FC | Sabadell | Creu Alta | |
| Unión Club Irún | Irun | Stadium Gal | |
| Zaragoza FC | Zaragoza | Torrero |
| Club | City | Stadium | |
|---|---|---|---|
| Elche FC | Elche | Altabix | |
| Gimnástico FC | Valencia | Vallejo | |
| Hércules CF | Alicante | La Viña | |
| Levante FC | Valencia | Hondo del Grao | |
| CD Malacitano | Málaga | Baños del Carmen | |
| Murcia FC | Murcia | La Condomina | |
| Recreativo Granada | Granada | Los Cármenes | |
| Sport La Plana | Castellón de la Plana | El Sequiol |