| Competition: | Primera División |
| Season: | 1939–40 |
| Winners: | Atlético Aviación (1st title) |
| Relegated: | Betis Racing Santander |
| League Topscorer: | Victorio Unamuno (20 goals) |
| Biggest Away Win: | Betis 0–4 Madrid FC |
| Highest Scoring: | Athletic Bilbao 7–5 Barcelona |
| Matches: | 132 |
| Total Goals: | 501 |
| Longest Wins: | 5 matches Atlético Madrid |
| Longest Losses: | 4 matches Athletic Bilbao Celta Español Racing Santander |
| Longest Unbeaten: | 7 matches Sevilla |
| Longest Winless: | 8 matches Zaragoza |
| Prevseason: | 1935–36 |
| Nextseason: | 1940–41 |
The 1939–40 La Liga was the ninth season since its establishment and the first one after the Spanish Civil War, which forced the suspension of the competition for three years. The season started on December 3, 1939, and finished on April 28, 1940.
Despite being relegated in the previous season, Atlético Aviación won its first title ever.
For this season, the team qualified in the 10th position would face the second qualified team from Segunda División in a single-game play-off at a neutral venue. The winner would play the next season of La Liga.
Due to the several damages in Estadio Buenavista after the Spanish Civil War, Oviedo did not play this season. However, the Spanish Football Federation assured them a berth in the 1940–41 La Liga.
Athletic Madrid changed its name to Athletic Aviación, after its merge with Aviación Nacional. Despite being relegated to Segunda División, it remained in the league by winning a play-off match against Osasuna for occupying the vacant berth after the resignation of Oviedo. Due to the damages at Estadio Metropolitano de Madrid, they played their games during this season at Estadio Chamartín, and one game at Vallecas.
Celta and Zaragoza made their debut in La Liga.
| Club | City | Stadium | |
|---|---|---|---|
| Chamartín | |||
| San Mamés | |||
| Les Corts | |||
| Patronato Obrero | |||
| Balaídos | |||
| Sarriá | |||
| Bardín | |||
| Chamartín | |||
| El Sardinero | |||
| Nervión | |||
| Mestalla | |||
| Torrero |
The play-off match was played at Estadio Chamartín in Chamartín de la Rosa.|}
| Rank | Goalscorers | Team | Goals | |
|---|---|---|---|---|
| 1 |  Victorio Unamuno | Athletic Bilbao | 20 | |
| 2 | Raimundo Blanco | Sevilla | 18 | |
| 3 | Vilanova | Hércules | 17 | |
| 4 | Campanal I | Sevilla | 16 | |
| 5 | Guillermo Gorostiza | Athletic Bilbao | 14 | |
| Agustín | Celta | |||
| Antonio Chas | Racing Santander | |||
| Mundo | Valencia | |||
| 9 | Manuel Alday | Madrid FC | 13 | |
| 10 | Simón Lecue | Madrid FC | 12 |