| Hong Kong–Shanghai Cup | |
| Year: | 1948 |
| Date: | --> |
| Defending Champions: | Hong Kong |
| Winners: | Hong Kong |
| Count: | 11 |
| Second: | Shanghai |
| Semifinal1: | --> |
| Semifinal2: | --> |
| Prev Season: | 1947 |
| Next Season: | 1987 |
1948 Hong Kong–Shanghai Cup was the 21st staging of Hong Kong-Shanghai Cup and the last staging before the competition was halted for about 40 years.[1] Hong Kong captured the champion by winning 5–1.