The 1939 season of the Mitropa Cupfootball club tournament was won by Újpest who defeated fellow Hungarian side Ferencváros 6–3 on aggregate in the final. It was the third consecutive final appearance for Ferencváros and it was Újpest's second and final victory in the competition.
This was the 13th edition of the tournament. Last season's winners Slavia Prague were eliminated in the quarter-finals by Yugoslavian side Beogradski SK.