The 1954 Titleholders Championship was contested from March 11–14 at Augusta Country Club. It was the 15th edition of the Titleholders Championship.
This event was won by Louise Suggs.
| Place | Player | Score | To par | Money ($) | |||
|---|---|---|---|---|---|---|---|
| 1 |  Louise Suggs | 73-71-76-73=293 | +5 | 1,000 | |||
| 2 | Patty Berg | 74-76-73-77=300 | +12 | 600 | |||
| 3 | Babe Zaharias | 76-70-80-76=302 | +14 | 400 | |||
| 4 | Betsy Rawls | 76-77-71-79=303 | +15 | 300 | |||
| 5 | Marlene Bauer | 79-76-74-75=304 | +16 | 200 | |||
| align=center rowspan=2 | T6 | Betty Dodd | 77-74-77-78=306 | align=center rowspan=2 | +18 | align=right rowspan=2 | 138 |
| Betty MacKinnon | 79-73-78-76=306 | ||||||
| 8 | Betty Jameson | 75-76-81-75=307 | +19 | 100 | |||
| 9 | Barbara Romack (a) | 75-76-78-80=309 | +21 | 0 | |||
| 10 | Mickey Wright (a) | 76-79-75-80=310 | +22 | 0 |