1938 Speedway National League
| League | National League Division One |
|---|---|
| No. of competitors | 7 |
| Champions | New Cross Rangers |
| National Trophy | Wimbledon Dons |
| A.C.U Cup | West Ham Hammers |
| London Cup | Wimbledon Dons |
| Highest average | Jack Milne |
| Division/s below | National League (Div 2) |
The 1938 National League Division One was the tenth season of the highest tier of motorcycle speedway in Great Britain.