| Competition: | Allsvenskan |
| Season: | 1938–39 |
| Winners: | IF Elfsborg |
| Relegated: | Degerfors IF Hallstahammars SK |
| League Topscorer: | Erik Persson, AIK Ove Andersson, Malmö FF Yngve Lindgren, Örgryte IS (16) |
| Average Attendance: | 6,410 |
| Prevseason: | 1937–38 |
| Nextseason: | 1939–40 |
Statistics of Allsvenskan in season 1938/1939.
The league was contested by 12 teams, with IF Elfsborg winning the championship.