| Final Ranking | p | w | d | l | gf | ga | | 1. Academica de Coimbra | 6 | 3 | 0 | 2 | 14: | 8 | | 2. Oriental Lisboa | 6 | 3 | 0 | 2 | 15: | 12 | | 3. Famalicao | 4 | 2 | 0 | 3 | 9: | 16 | | 4. Portimonense | 4 | 2 | 0 | 3 | 8: | 10 |
| Team | Acad | Orie | Fama | Port | | Academica de Coimbra | --- | 6:2 | 5:1 | 1:0 | | Oriental Lisboa | - | --- | 5:1 | 6:1 | | Famalicao | 3:2 | 1:2 | --- | 3:2 | | Portimonense | 2:0 | 3:0 | - | --- |
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| Academica Coimbra promoted to Divisao I 1950. |
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| date | team 1 | score | team 2 | HT | | Round 1 | | 13.02 | Famalicao | 3-2 | Academica de Coimbra | | | 13.02 | Portimonense | 3-0 | Oriental Lisboa | | | Round 2 | | 20.02 | Oriental Lisboa | 5-1 | Famalicao | | | 20.02 | Academica de Coimbra | 1-0 | Portimonense | | | Round 3 | | 06.03 | Famalicao | 3-2 | Portimonense | | | 06.03 | Academica de Coimbra | 6-2 | Oriental Lisboa | | | Round 4 | | 13.03 | Oriental Lisboa | 6-1 | Portimonense | | | 04. | Academica de Coimbra | 5-1 | Famalicao | | | Round 5 | | 03.04 | Famalicao | 1-2 | Oriental Lisboa | | | 03.04 | Portimonense | 2-0 | Academica de Coimbra | | | Round 6 | | 06. | Oriental Lisboa | | Academica de Coimbra | | | 06. | Portimonense | | Famalicao | |
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