| Season: | 1938 |
| Manager: |  Vicente Feola Tito Rodrigues |
| Mgrtitle: | Manager |
| Chairman: | Cid Matos Viana Piragibe Nogueira |
| Chrtitle: | Chairman |
| League: | Torneio Rio-São Paulo |
| Cup1: | Campeonato Paulista |
| Cup1 Result: | Runners-up |
| Prevseason: | 1937 |
| Nextseason: | 1939 |
The 1938 football season was São Paulo's 9th season since the club's founding in 1930.
| Games played | 42 (10 Campeonato Paulista, 32 Friendly match) |
| Games won | 18 (6 Campeonato Paulista, 12 Friendly match) |
| Games drawn | 6 (2 Campeonato Paulista, 4 Friendly match) |
| Games lost | 18 (2 Campeonato Paulista, 16 Friendly match) |
| Goals scored | 93 |
| Goals conceded | 79 |
| Goal difference | +14 |
| Best result | 8–1 (H) v Luzitano - Campeonato Paulista - 1938.11.13 |
| Worst result | 0–5 (H) v Portuguesa - Campeonato Paulista - 1939.04.02 |
| Most appearances | |
| Top scorer | |