| Competition: | Peruvian Primera División |
| Season: | 1938 |
| Dates: | 25 September 1938 – 20 November 1938 |
| Winners: | Deportivo Municipal |
| Relegated: | Alianza Lima Progresista Apurímac |
| League Topscorer: |  Jorge Alcalde (8) |
| Prevseason: | 1937 |
| Nextseason: | 1939 |
The 1938 season of the Peruvian Primera División, the top category of Peruvian football, was played by 9 teams. The national champions were Deportivo Municipal.[1] [2] Because Alianza Lima and Sucre tied on points a relegation playoff took place.[3] From 1931 until 1942 the points system was W:3, D:2, L:1, walkover:0.
The whole tournament was played in two stadiums:
| Stadium | City | |
|---|---|---|
| Lima | ||
| Estadio Modelo de Bellavista | Callao |
Teams play each other once, either home or away. All matches were played in Lima.
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