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Grand final: 13.11 (89) d Essendon 7.8 (50) · M.C.G. (after a drawn grand final)
| # | Club | W–L–D | P | W | L | D | % | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1 | EssendonEssendon | 16–2–1 | 19 | 16 | 2 | 1 | 137.2 | 66 | |
| 2 | MelbourneMelbourne | 13–6–0 | 19 | 13 | 6 | 0 | 124.9 | 52 | |
| 3 | CollingwoodCollingwood | 13–6–0 | 19 | 13 | 6 | 0 | 118.3 | 52 | |
| 4 | FootscrayFootscray | 12–7–0 | 19 | 12 | 7 | 0 | 103.2 | 48 | |
| 5 | RichmondRichmond | 11–7–1 | 19 | 11 | 7 | 1 | 125.6 | 46 | |
| 6 | CarltonCarlton | 10–9–0 | 19 | 10 | 9 | 0 | 113.1 | 40 | |
| 7 | FitzroyFitzroy | 9–10–0 | 19 | 9 | 10 | 0 | 112.8 | 36 | |
| 8 | North MelbourneNorth | 8–11–0 | 19 | 8 | 11 | 0 | 83.6 | 32 | |
| 9 | Geelong CatsGeelong | 7–12–0 | 19 | 7 | 12 | 0 | 89.7 | 28 | |
| 10 | South MelbourneSouth Melbourne | 7–12–0 | 19 | 7 | 12 | 0 | 82.8 | 28 | |
| 11 | HawthornHawthorn | 5–14–0 | 19 | 5 | 14 | 0 | 75.7 | 20 | |
| 12 | St KildaSt Kilda | 2–17–0 | 19 | 2 | 17 | 0 | 59.8 | 8 |
Melbourne won the 1948 premiership, beating Essendon in the grand final, 13.11 (89) to 7.8 (50) at M.C.G..
Essendon were minor premiers with 16 wins and 1 draw from 19 games.
St Kilda finished last with 2 wins.
Results before 2001 come from Squiggle (squiggle.com.au); match files with player stats start in 2001.