1938–39 Scottish Division Two
| Season | 1938–39 |
|---|---|
| Champions | Cowdenbeath |
← 1937–38 1946–47 → | |
The 1938–39 Scottish Division Two was won by Cowdenbeath. Edinburgh City finished bottom.
It was the last season of play until the 1946–47 season due to World War II; and it would be the final Scottish League season for King's Park and for St Bernard's, because of the difficulties they encountered during the war years.