| Number: | 26 |
| Type: | Grey Cup |
| Date: | December 10, 1938 |
| Stadium: | Varsity Stadium |
| City: | Toronto |
| Visitor Name: | Winnipeg Blue Bombers |
| Visitor Colour: | Winnipeg Blue Bombers |
| Home Name: | Toronto Argonauts |
| Home Colour: | Toronto Argonauts |
| Visitor Coach: | Red Threlfall |
| Home Coach: | Lew Hayman |
| Visitor Record: | 6–2 |
| Home Record: | 5–1 |
| Visitor1: | 4 |
| Visitor2: | 3 |
| Visitor3: | 0 |
| Visitor4: | 0 |
| Home1: | 0 |
| Home2: | 5 |
| Home3: | 1 |
| Home4: | 24 |
| Attendance: | 18,778 |
The 26th Grey Cup was played on December 10, 1938, before 18,778 fans at Varsity Stadium at Toronto.
The Toronto Argonauts defeated the Winnipeg Blue Bombers 30–7.