Statistics of Primera División Uruguaya for the 1938 season.
It was contested by 11 teams, and Peñarol won the championship.
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Peñarol | 20 | 16 | 2 | 2 | 62 | 24 | +38 | 34 |
| 2 | Nacional | 20 | 14 | 3 | 3 | 59 | 20 | +39 | 31 |
| 3 | Central | 20 | 9 | 7 | 4 | 36 | 26 | +10 | 25 |
| 4 | Montevideo Wanderers | 20 | 9 | 4 | 7 | 35 | 27 | +8 | 22 |
| 5 | Bella Vista | 20 | 6 | 8 | 6 | 24 | 30 | −6 | 20 |
| 6 | Defensor | 20 | 6 | 7 | 7 | 37 | 35 | +2 | 19 |
| 7 | River Plate | 20 | 6 | 7 | 7 | 27 | 37 | −10 | 19 |
| 8 | Racing Montevideo | 20 | 4 | 8 | 8 | 23 | 30 | −7 | 16 |
| 9 | Sud América | 20 | 5 | 4 | 11 | 32 | 54 | −22 | 14 |
| 10 | Rampla Juniors | 20 | 3 | 7 | 10 | 28 | 45 | −17 | 13 |
| 11 | Liverpool | 20 | 1 | 5 | 14 | 17 | 52 | −35 | 7 |
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