Football League Third Division South 1931/32
| Pos | Club | Pld | W | D | L | F | A | GA | Pts | Notes |
| 1st | Fulham | 42 | 24 | 9 | 9 | 111 | 62 | 1.790 | 57 | ▲Champions |
| 2nd | Reading | 42 | 23 | 9 | 10 | 97 | 67 | 1.448 | 55 | Runners Up |
| 3rd | Southend United | 42 | 21 | 11 | 10 | 77 | 53 | 1.453 | 53 | - |
| 4th | Crystal Palace | 42 | 20 | 11 | 11 | 74 | 63 | 1.175 | 51 | - |
| 5th | Brentford | 42 | 19 | 10 | 13 | 68 | 52 | 1.308 | 48 | - |
| 6th | Luton Town | 42 | 20 | 7 | 15 | 95 | 70 | 1.357 | 47 | - |
| 7th | Exeter City | 42 | 20 | 7 | 15 | 77 | 62 | 1.242 | 47 | - |
| 8th | Brighton & Hove Albion | 42 | 17 | 12 | 13 | 73 | 58 | 1.259 | 46 | - |
| 9th | Cardiff City | 42 | 19 | 8 | 15 | 87 | 73 | 1.192 | 46 | - |
| 10th | Norwich City | 42 | 17 | 12 | 13 | 76 | 67 | 1.134 | 46 | - |
| 11th | Watford | 42 | 19 | 8 | 15 | 81 | 79 | 1.025 | 46 | - |
| 12th | Coventry City | 42 | 18 | 8 | 16 | 108 | 97 | 1.113 | 44 | - |
| 13th | Queens Park Rangers | 42 | 15 | 12 | 15 | 79 | 73 | 1.082 | 42 | - |
| 14th | Northampton Town | 42 | 16 | 7 | 19 | 69 | 69 | 1.000 | 39 | - |
| 15th | Bournemouth & Boscambe Athletic | 42 | 13 | 12 | 17 | 70 | 78 | 0.897 | 38 | - |
| 16th | Clapton Orient | 42 | 12 | 11 | 19 | 77 | 90 | 0.856 | 35 | - |
| 17th | Swindon Town | 42 | 14 | 6 | 22 | 70 | 84 | 0.833 | 34 | - |
| 18th | Bristol Rovers | 42 | 13 | 8 | 21 | 65 | 92 | 0.707 | 34 | - |
| 19th | Torquay United | 42 | 12 | 9 | 21 | 72 | 106 | 0.679 | 33 | - |
| 20th | Mansfield Town | 42 | 11 | 10 | 21 | 75 | 108 | 0.694 | 32 | Transferred |
| 21st | Gillingham | 42 | 10 | 8 | 24 | 40 | 82 | 0.488 | 28 | Re Elected |
| 22nd | Thames | 42 | 7 | 9 | 26 | 53 | 109 | 0.486 | 23 | ▼Resigned |
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Election for League Membership |
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| Thames resigned at the end of the season. Mansfield were transferred to the Third Division (North) to make up the numbers in the Northern division following Wigan Borough's resignation during the season. This left two vacancies in the Southern section, with only one club being required to seek re-election. | ||
| Votes | Club | End Result |
| 41 | Gillingham | Re Elected to the League |
| 36 | Newport County | ▲Elected to the League |
| 35 | Aldershot | ▲Elected to the League |
| 25 | LIanelly | Not Elected to the League |
| 8 | Guildford City | Not Elected to the League |
| 2 | Merthyr Town | Not Elected to the League |
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End of Season Notes |
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▼Bristol City were Relegated from the Football League Second Division |
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▲Fulham were Promoted to the Football League Second Division |
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- Mansfield Town Transferred to the Football League Third Division North |
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- Gillingham were Re-Elected to the League |
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▼Thames Resigned from the Football League at the end of the season |
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▲Newport County were Elected to the Football League |
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▲Aldershot were Elected to the Football League |