| Tourney Name: | Mitropa Cup |
| Year: | 1931 |
| Dates: | 27 June – 12 November 1931 |
| Num Teams: | 8 |
| Champion Other: |  First Vienna |
| Count: | 1 |
| Matches: | 16 |
| Top Scorer: | Heinrich Hiltl (7 goals) |
| Prevseason: | 1930 |
| Nextseason: | 1932 |
The 1931 season of the Mitropa Cup football club tournament was won by First Vienna FC in an all Austrian two-legged final against Wiener Athletiksport Club. This was the fifth edition of the tournament.
The holders, SK Rapid Wien, were unable to defend the cup as two other clubs from Vienna were Austria's representatives.
The final, between the two Vienna clubs, was played on 8 and 12 November 1931 in Zürich and Vienna. First Vienna won both matches, 3-2 in Zürich and 2-1 in Vienna, to become the second Austrian club to win this event after Rapid the previous year, and the only team to win the Mitropa Cup undefeated. Henri Hiltl from Wiener Athletiksport Club was top scorer in the tournament with seven goals. Walter Hanke of Wiener AC scored a goal in each leg of the final, whilst Franz Erdl of First Vienna scored both his team's goals in the second leg.
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| Rank | Player | Team | Goals |
|---|---|---|---|
| 1 | Heinrich Hiltl | 7 | |
| 2 | Walter Hanke | 5 | |
| 3 | Franz Erdl | First Vienna | 4 |
| Oldřich Nejedlý | Sparta Prague |