| 1938–39 Ranji Trophy | |
| Administrator: | BCCI |
| Cricket Format: | First-class |
| Tournament Format: | Knockout |
| Fromdate: | 28 October 1938 |
| Todate: | 21 February 1939 |
| Champions: | Bengal |
| Count: | 1 |
| Participants: | 20 |
| Matches: | 20 |
| Most Runs: | Naoomal Jeoomal (Sind) (418) |
| Most Wickets: | Amir Elahi (Nawanagar) (28) |
| Previous Year: | 1937–38 |
| Previous Tournament: | 1937–38 Ranji Trophy |
| Next Year: | 1939–40 |
| Next Tournament: | 1939–40 Ranji Trophy |
| Website: | http://www.bcci.tv |
The 1938–39 Ranji Trophy was the fifth edition of the Ranji Trophy, an annual first-class cricket tournament in India. Matches were played from 28 October 1938 to 21 February 1939 with a total of twenty teams participating. The Army and Delhi both returned and were included in the North Zone. The sides were divided into four zonal groups, but the tournament utilised a knockout format. Bengal won their first title defeating Southern Punjab in the final.
Although the tournament ran in a knockout format, the Board of Control for Cricket in India (BCCI) organised the teams by zone. Delhi and the Army rejoined North Zone although the latter did not actually play a match. United Provinces (North to East) and Rajputana (East to North) exchanged zones. The twenty teams are listed alphabetically by zone and the sides that won each zonal title are in bold.