The WIFU increased their games from 8 to 12 games per team.

The Hamilton Tigers, formerly of the IRFU joined the ORFU, and the Hamilton Wildcats joined the IRFU on Friday, April 9.

The Regina/Saskatchewan Roughriders and the Calgary Stampeders changed their team colours. The Roughriders adopted green and white and the Stampeders reverted to red and white.

In the Grey Cup game, the Stampeders introduced pageantry with saddle horses and chuck wagons as they defeated the Ottawa Rough Riders 12–7 to win their first Grey Cup.

Note: All dates in 1948

It was the first Grey Cup win for Calgary after the team became the first (and still only) team to go undefeated in the regular season and playoffs.^[1]

NOTE: During this time most players played both ways, so the All-Star selections do not distinguish between some offensive and defensive positions.

• QB – Bob Paffrath, Ottawa Rough Riders
• HB – Howie Turner, Ottawa Rough Riders
• HB – Virgil Wagner, Montreal Alouettes
• HB – Joe Krol, Toronto Argonauts
• E – Bert Haigh, Ottawa Rough Riders
• E – Ralph Toohy, Montreal Alouettes
• FW – Tony Golab, Hamilton Wildcats
• C – Don Loney, Ottawa Rough Riders
• G – Eddie Michaels, Ottawa Rough Riders
• G – Lloyd "Bronco" Reese, Montreal Alouettes
• T – Herb Trawick, Montreal Alouettes
• T – John Wagoner, Ottawa Rough Riders

NOTE: During this time most players played both ways, so the All-Star selections do not distinguish between some offensive and defensive positions.

• QB – Frank Filchock, Hamilton Tigers
• HB – Jack Harper, Hamilton Tigers
• HB – Jack Stewart, Hamilton Tigers
• DB – Doug Pyzer, Toronto Beaches-Indians
• E – Verne Picard, Toronto Beaches-Indians
• E – Danny DiFrancisco, Hamilton Tigers
• FW – Gerry Walsh, Hamilton Tigers
• C – Jake Gaudaur, Hamilton Tigers
• G – Don McKenzie, Toronto Beaches-Indians
• G – Eddie Remigis, Hamilton Tigers
• T – Pat Santucci, Hamilton Tigers
• T – Lorne Parkin, Toronto Beaches-Indians

NOTE: During this time most players played both ways, so the All-Star selections do not distinguish between some offensive and defensive positions.

• QB – Keith Spaith, Calgary Stampeders
• HB – Don Hiney, Winnipeg Blue Bombers
• HB – Ken Charlton, Saskatchewan Roughriders
• HB – Gabe Patterson, Saskatchewan Roughriders
• FB – Paul Rowe, Calgary Stampeders
• E – Johnny Bell, Saskatchewan Roughriders
• E – Woody Strode, Calgary Stampeders
• C – Chuck Anderson, Calgary Stampeders
• G – Bud Irving, Winnipeg Blue Bombers
• G – Bert Iannone, Calgary Stampeders
• G – Dave Tomlinson, Calgary Stampeders
• T – Johnny Aguirre, Calgary Stampeders
• T – Mike Cassidy, Saskatchewan Roughriders

• Jeff Russel Memorial Trophy (IRFU MVP) – Eric Chipper (OT), Ottawa Rough Riders
• Jeff Nicklin Memorial Trophy (WIFU MVP) - Keith Spaith (QB), Calgary Stampeders
• Gruen Trophy (IRFU Rookie of the Year) - Keith English (E), Montreal Alouettes
• Imperial Oil Trophy (ORFU MVP) - Frank Filchock - Hamilton Tigers