The 1938–39 Nationalliga A season was the second season of the Nationalliga A, the top level of ice hockey in Switzerland. Six teams participated in the league, and HC Davos won the championship.
| Pl. | Team | GP | W | T | L | GF–GA | Pts. | |
|---|---|---|---|---|---|---|---|---|
| 1. | HC Davos | 5 | 5 | 0 | 0 | 26:3 | 10 | |
| 2. | Zürcher SC | 5 | 4 | 0 | 1 | 15:2 | 8 | |
| 3. | Grasshopper-Club | 5 | 2 | 0 | 3 | 10:14 | 4 | |
| 4. | SC Bern | 5 | 1 | 1 | 3 | 8:15 | 3 | |
| 5. | EHC Arosa | 5 | 1 | 1 | 3 | 4:21 | 3 | |
| 6. | EHC St. Moritz | 5 | 0 | 2 | 3 | 4:12 | 2 |