| Competition: | Peruvian Segunda División |
| Season: | 1949 |
| Dates: | 5 October 1949 – 29 January 1950 |
| Winners: | Jorge Chávez |
| Prevseason: | 1948 |
| Nextseason: | 1950 |
The 1948 Peruvian Segunda División, the second division of Peruvian football (soccer), was played by 8 teams. The tournament winners, Jorge Chávez and Ciclista Lima were promoted to the 1950 Peruvian Primera División.
| Team | City |
|---|---|
| Chorrillos, Lima | |
| Cercado de Lima, Lima | |
| Callao | |
| Cercado de Lima, Lima | |
| Cercado de Lima, Lima | |
| Callao | |
| Barranco, Lima | |
| Callao | |