| Competition: | Liga Mayor |
| Season: | 1939–40 |
| Winners: | Real España (5th title) |
| Matches: | 44 |
| Total Goals: | 199 |
| League Topscorer: | Alberto Mendoza (15 goals) |
| Prevseason: | 1938–39 |
| Nextseason: | 1940–41 |
The 1939-40 season was the edition XVIII of the league's amateur era called Liga Mayor.
The result of the match (América 4-3 Asturias) was annulled by the FMF.