| Competition: | Peruvian Segunda División |
| Season: | 1948 |
| Dates: | 20 November 1948 – 20 February 1949 |
| Winners: | Centro Iqueño |
| Prevseason: | 1947 |
| Nextseason: | 1949 |
The 1948 Peruvian Segunda División, the second division of Peruvian football (soccer), was played by eight teams. The tournament winner, Centro Iqueño, was promoted to the 1949 Peruvian Primera División.
| Team | City |
|---|---|
| Chorrillos, Lima | |
| Cercado de Lima, Lima | |
| Callao | |
| Cercado de Lima, Lima | |
| Cercado de Lima, Lima | |
| Barranco, Lima | |
| Callao | |