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The 1937–38 Panhellenic Championship was the ninth season of the highest football league of Greece. The champions of the 3 founding Associations of the HFF participated in the championship, which were the Αthenian, the Piraeus' and the Macedonian association. Olympiacos emerged again undefeated champion and won the championship for their sixth time (3 consecutive), winning in the crucial last game the then champion of Athens, Apollon Athens with 2-3 after a comeback from 2-1 at the half time, at Leoforos Alexandras Stadium. The point system was: Win: 2 points - Draw: 1 point - Loss: 0 points.
| Season | 1937–38 |
|---|---|
| Champions | Olympiacos 6th Greek title |
| Relegated | none |
| Matches played | 6 |
| Goals scored | 27 (4.5 per match) |
| Top goalscorer | Theologos Simeonidis (5 goals) |
| Biggest home win | Olympiacos 5–1 Aris Apollon Athens 4–0 Aris |
| Biggest away win | Apollon Athens 1–3 Olympiacos |
| Highest scoring | Olympiacos 5–1 Aris |
| Longest winning run | Olympiacos (4 matches) |
| Longest unbeaten run | Olympiacos (4 matches) |
| Longest winless run | Aris (4 matches) |
| Longest losing run | Aris (4 matches) |
← 1936–37 1938–39 → | |
Athens Football Clubs Association
| Pos | Team | Pld | GF | GA | GD | Pts | Qualification |
|---|---|---|---|---|---|---|---|
| 1 | Apollon Athens (Q) | 10 | 32 | 11 | +21 | 17 | Final Round |
| 2 | AEK Athens | 10 | 33 | 12 | +21 | 16 | |
| 3 | Panathinaikos | 10 | 44 | 10 | +34 | 13 | |
| 4 | Asteras Athens | 10 | 19 | 27 | -8 | 7 | |
| 5 | Daphni Metaxourgeio | 10 | 11 | 35 | -24 | 6 | |
| 6 | Athinaikos | 10 | 9 | 53 | -44 | 1 | |
Piraeus Football Clubs Association
| Pos | Team | Pld | GF | GA | GD | Pts | Qualification |
|---|---|---|---|---|---|---|---|
| 1 | Olympiacos (Q) | 6 | 33 | 2 | +31 | 12 | Final Round |
| 2 | Ethnikos Piraeus | 6 | 12 | 13 | -1 | 5 | |
| 3 | Thiseas Piraeus | 6 | 10 | 25 | -15 | 4 | |
| 4 | Aris Piraeus | 6 | 7 | 22 | -15 | 3 |
Macedonia Football Clubs Association
| Pos | Team | Pld | GF | GA | GD | Pts | Qualification |
|---|---|---|---|---|---|---|---|
| 1 | Aris (Q) | 12 | 40 | 8 | +32 | 20 | Final Round |
| 2 | PAOK | 12 | 31 | 19 | +12 | 17 | |
| 3 | Iraklis | 12 | 30 | 15 | +15 | 17 | |
| 4 | Makedonikos | 12 | 17 | 22 | -5 | 12 | |
| 5 | MENT | 12 | 13 | 13 | 0 | 11 | |
| 6 | Aetos Papafi | 12 | 12 | 28 | -10 | 5 | |
| 7 | Olympiacos Terpsithea | 12 | 9 | 49 | -40 | 2 | |
League table
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | OLY | APOL | ARIS | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Olympiacos (C) | 4 | 4 | 0 | 0 | 14 | 6 | +8 | 8 | 3–2 | 5–1 | ||
| 2 | Apollon Athens | 4 | 2 | 0 | 2 | 9 | 7 | +2 | 4 | 1–3 | 4–0 | ||
| 3 | Aris | 4 | 0 | 0 | 4 | 4 | 14 | −10 | 0 | 2–3 | 1–2 |
| Rank | Player | Club | Goals |
|---|---|---|---|
| 1 |  Theologos Simeonidis |
Olympiacos | 5 |
| 2 | Giannis Vazos |
Olympiacos | 4 |
| 3 | Christoforos Raggos |
Olympiacos | 3 |
| Stratos |
Apollon Athens |
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