| Team: | Toronto Argonauts |
| Year: | 1954 |
| Record: | 6–8 |
| Division Place: | 3rd, IRFU |
| Coach: | Frank Clair[1] |
| Stadium: | Varsity Stadium[2] |
| Playoffs: | did not qualify |
| Shortnavlink: | Argonauts seasons |
The 1954 Toronto Argonauts finished in third place in the Interprovincial Rugby Football Union with a 6–8 record and failed to make the playoffs.
| Montreal Alouettes | 14 | 11 | 3 | 0 | 341 | 148 | 22 | |
| Hamilton Tiger-Cats | 14 | 9 | 5 | 0 | 275 | 207 | 18 | |
| 14 | 6 | 8 | 0 | 212 | 265 | 12 | ||
| 14 | 2 | 12 | 0 | 129 | 337 | 4 |
| Week | Date | Opponent | Result | Record | Venue | Attendance | |
| 1 | Aug 28 | Ottawa Rough Riders | W 13–6 | 1–0 | Varsity Stadium | 16,702 | |
| 2 | Sept 4 | Hamilton Tiger-Cats | L 6–17 | 1–1 | Varsity Stadium | 14,747 | |
| 2 | Sept 6 | at Hamilton Tiger-Cats | W 21–7 | 2–1 | Civic Stadium | 14,000 | |
| 3 | Sept 11 | Ottawa Rough Riders | L 5–12 | 2–2 | Varsity Stadium | 13,910 | |
| 4 | Sept 18 | at Ottawa Rough Riders | W 34–6 | 3–2 | Lansdowne Park | 12,000 | |
| 5 | Sept 25 | at Montreal Alouettes | L 7–28 | 3–3 | Molson Stadium | 18,104 | |
| 6 | Oct 2 | Montreal Alouettes | L 12–30 | 3–4 | Varsity Stadium | 20,700 | |
| 7 | Oct 9 | at Hamilton Tiger-Cats | L 6–34 | 3–5 | Civic Stadium | 13,000 | |
| 7 | Oct 11 | Hamilton Tiger-Cats | L 13–22 | 3–6 | Varsity Stadium | 16,050 | |
| 8 | Oct 16 | at Ottawa Rough Riders | W 27–11 | 4–6 | Lansdowne Park | 8,809 | |
| 9 | Oct 23 | Montreal Alouettes | W 30–24 | 5–6 | Varsity Stadium | 16,401 | |
| 10 | Oct 30 | at Montreal Alouettes | L 13–41 | 5–7 | Molson Stadium | 19,125 | |
| 11 | Nov 6 | Ottawa Rough Riders | W 18–12 | 6–7 | Varsity Stadium | 11,273 | |
| 12 | Nov 13 | at Hamilton Tiger-Cats | L 7–15 | 6–8 | Civic Stadium | 9,000 |