Football League Third Division South 1932/33
| Pos | Club | Pld | W | D | L | F | A | GA | Pts | Notes |
| 1st | Brentford | 42 | 26 | 10 | 6 | 90 | 49 | 1.837 | 62 | ▲Champions |
| 2nd | Exeter City | 42 | 24 | 10 | 8 | 88 | 48 | 1.833 | 58 | Runners Up |
| 3rd | Norwich City | 42 | 22 | 13 | 7 | 88 | 55 | 1.600 | 57 | - |
| 4th | Reading | 42 | 19 | 13 | 10 | 103 | 71 | 1.451 | 51 | - |
| 5th | Crystal Palace | 42 | 19 | 8 | 15 | 78 | 64 | 1.219 | 46 | - |
| 6th | Coventry City | 42 | 19 | 6 | 17 | 106 | 77 | 1.377 | 44 | - |
| 7th | Gillingham | 42 | 18 | 8 | 16 | 72 | 61 | 1.180 | 44 | - |
| 8th | Northampton Town | 42 | 18 | 8 | 16 | 76 | 66 | 1.152 | 44 | - |
| 9th | Bristol Rovers | 42 | 15 | 14 | 13 | 61 | 56 | 1.089 | 44 | - |
| 10th | Torquay United | 42 | 16 | 12 | 14 | 72 | 67 | 1.075 | 44 | - |
| 11th | Watford | 42 | 16 | 12 | 14 | 66 | 63 | 1.048 | 44 | - |
| 12th | Brighton & Hove Albion | 42 | 17 | 8 | 17 | 66 | 65 | 1.015 | 42 | - |
| 13th | Southend United | 42 | 15 | 11 | 16 | 65 | 82 | 0.793 | 41 | - |
| 14th | Luton Town | 42 | 13 | 13 | 16 | 78 | 78 | 1.000 | 39 | - |
| 15th | Bristol City | 42 | 12 | 13 | 17 | 83 | 90 | 0.922 | 37 | - |
| 16th | Queens Park Rangers | 42 | 13 | 11 | 18 | 72 | 87 | 0.828 | 37 | - |
| 17th | Aldershot | 42 | 13 | 10 | 19 | 61 | 72 | 0.847 | 36 | - |
| 18th | Bournemouth & Boscambe Athletic | 42 | 12 | 12 | 18 | 60 | 81 | 0.741 | 36 | - |
| 19th | Cardiff City | 42 | 12 | 7 | 23 | 69 | 99 | 0.697 | 31 | - |
| 20th | Clapton Orient | 42 | 8 | 13 | 21 | 59 | 93 | 0.634 | 29 | - |
| 21st | Newport County | 42 | 11 | 7 | 24 | 61 | 105 | 0.581 | 29 | Re Elected |
| 22nd | Swindon Town | 42 | 9 | 11 | 22 | 60 | 105 | 0.571 | 29 | Re Elected |
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Election for League Membership |
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| Four non-league clubs challenged the two clubs needing to seek re-election to the Third Division South in the vote for League membership. | ||
| Votes | Club | End Result |
| 45 | Swindon Town | Re Elected to the League |
| 26 | Newport County | Re Elected to the League |
| 20 | LIanelly | Not Elected to the League |
| 5 | Folkestone | Not Elected to the League |
| 1 | Merthyr Town | Not Elected to the League |
| 1 | Nuneaton Town | Not Elected to the League |
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End of Season Notes |
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▼Charlton Athletic were Relegated from the Football League Second Division |
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▲Brentford were Promoted to the Football League Second Division |
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- Newport County were Re-Elected to the League |
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- Swindon Town were Re-Elected to the League |