| Competition: | OB I |
| Season: | 1923 |
| Winners: | III. Kerületi TVE |
| Prevseason: | 1922 |
| Nextseason: | 1924 |
1923 Országos Bajnokság I (men's water polo) was the 17th water polo championship in Hungary. There were six teams who played one round match for the title.
| Team | M | W | D | L | G+ | G− | P | |
|---|---|---|---|---|---|---|---|---|
| 1. | III. ker. TVE | 5 | 5 | 0 | 0 | 51 | 8 | 10 |
| 2. | Ferencvárosi TC | 5 | 4 | 0 | 1 | 37 | 12 | 8 |
| 3. | MAC | 5 | 3 | 0 | 2 | 7 | 12 | 6 |
| 4. | Vívó és Atlétikai Club | 5 | 2 | 0 | 3 | 9 | 29 | 4 |
| 5. | MAFC | 5 | 1 | 0 | 4 | 4 | 32 | 2 |
| 6. | Nemzeti SC | 5 | 0 | 0 | 5 | 1 | 16 | 0 |
* M: Matches W: Win D: Drawn L: Lost G+: Goals earned G−: Goals got P: Point