| Tourney Name: | Mitropa Cup |
| Year: | 1939 |
| Dates: | 26 June – 11 September 1939 |
| Num Teams: | 8 |
| Champion Other: |  Újpest |
| Count: | 2 |
| Second Other: | Ferencváros |
| Top Scorer: | Gyula Zsengellér (9 goals) |
| Prevseason: | 1938 |
| Nextseason: | 1940 |
The 1939 season of the Mitropa Cup football club tournament was won by Újpest who defeated fellow Hungarian side Ferencváros 6–3 on aggregate in the final. It was the third consecutive final appearance for Ferencváros and it was Újpest's second and final victory in the competition.
This was the 13th edition of the tournament. Last season's winners Slavia Prague were eliminated in the quarter-finals by Yugoslavian side Beogradski SK.
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| Rank | Player | Team | Goals |
|---|---|---|---|
| 1 | Gyula Zsengellér | Újpest | 9 |
| 2 | István Kiszely | Ferencváros | 5 |
| 3 |  Ettore Puricelli | AGC Bologna | 4 |
| Géza Kocsis | Újpest | ||
| Géza Toldi | Ferencváros |