Toronto Greenbacks defeated London Labbats 4-1 in the opening game of Western Division on May 2 in Toronto.
Doug McMahon set a new Canadian goalscoring record by scoring 71 goals during the 1948 season. The previous record was the 60 goals scored by Eddie MacLaine in the 1925 season.
After the season London Labbats and Brantford Nationals joined the Ontario Major League.
Results and standings
Western Section GP W L T GF GA Pts Toronto Greenbacks, Hamilton Westinghouse, London Labbats, Brantford Nationals Eastern Section GP W L T GF GA Pts 1. Carsteel 2. Canadair Falcons Eastern playoffs September 25, 1948 Notre Dame Stadium, Montreal Carsteel 4 (Doug McMahon 3, Andy Menyes) Canadair Falcons 2 September 26, 1948 Charlevoix, Montreal Carsteel 6 (Doug McMahon 2, Andy Menyes 2, Willie Gammon, Stoddard) Canadair Falcons 2 Carsteel won the two-game total-goal series 10-4. Atholstan Cup Final October 9, 1948 Charlevoix, Montreal Montreal Carsteel 3 Hamilton Westinghouse 1 October 10, 1948 at Charlevoix, Montreal Montreal Carsteel 3 (Doug McMahon, Jack Muir, Paul Castonguay) Hamilton Westinghouse 3 (Bob Kennedy, Jimmy Swan, George Campbell) Carsteel won the two-game total-goals series 6-4.