| Season: | 1939–40 |
| Competition: | Maltese First Division |
| Winners: | Sliema Wanderers F.C. (11th title) |
| Matches: | 31 |
| Total Goals: | 117 |
| Prevseason: | 1938–39 |
| Nextseason: | 1944–45 |
The 1939–40 Maltese First Division was the 29th season of top-tier football in Malta. It was contested by 6 teams, and Sliema Wanderers F.C. won the championship.
With both Sliema Wanderers and St. George's level on 16 points, a play-off match was conducted to decide the champion.