| Season: | 1940 |
| Promoted: | |
| Nextseason: | 1945 |
The 1940 Soviet football championship in Gruppa B (Russian: Чемпионат СССР по футболу в группе «Б») was fifth season of the (second tier) professional football competitions in the Soviet Union. It was also the second season after revival of the second tier competitions and the last season before the Nazi Germany invaded the Soviet Union with the ongoing World War II.
The season started on 2 May 1940 (following the International Workers' Day) with matches in Ukraine and the Caucasus republics. The season ended on 27 October 1940 in Kiev.
The league was reduced almost in half from 23 to 14 teams. The competitions were conducted in double round robin format where each team is playing with every other twice, at home and away.
Two teams were relegated from the 1939 Gruppa A
| Rank | Scorer | Team | Goals (Pen.) | |
|---|---|---|---|---|
| align=center | 1 | Ivan Borisevich | Pischevik Odessa | 15 |
| align=center rowspan=2 | 2 | Boris Chuchelov | Krasnaya Zaria Leningrad | 14 |
| Aleksandr Korotkov | Torpedo Gorkiy | 14 | ||
| align=center rowspan=2 | 4 | Vasiliy Gusarov | Dinamo Kharkov | 13 |
| Leonid Oryekhov | Pischevik Odessa | 13 | ||
| align=center rowspan=3 | 6 | Pavel Bogatyryov | Spartak Leningrad | 11 |
| Vasiliy Panfilov | Dinamo Minsk | 11 | ||
| Aram Stepanov | Dynamo Kyiv | 11 | ||
| align=center rowspan=6 | 9 | Artur Chalikyan | Spartak Yerevan | 10 |
| Sergei Chernykh | Spartak Leningrad | 10 | ||
| Aleksei Salakov | Torpedo Gorkiy | 10 | ||
| Aleksandr Sevidov | Pischevik Moscow | 10 | ||
| Ivan Talanov | Avangard Leningrad | 10 | ||
| Pavel Vinkovatov | Selmash Kharkov | 10 | ||
| Number | Union republics | Team(s) | |
|---|---|---|---|
| 6 | FC Krasnaya Zaria Leningrad, FC Spartak Leningrad, FC Burevestnik Moscow, FC Avangard Leningrad, FC Pischevik Moscow FC Torpedo Gorky | ||
| 5 | FC Dinamo Kharkov, FC Pischevik Odessa, FC Lokomotiv Kiev, FC Sudostroitel Nikolaev, FC Selmash Kharkov | ||
| 1 | Stroitel Baku | ||
| 1 | FC Dinamo Minsk | ||
| 1 | FC Spartak Yerevan |