| East | GP | W | L | T | PTS | GF | GA |
|---|---|---|---|---|---|---|---|
| Buffalo Bisons | 70 | 40 | 26 | 4 | 84 | 309 | 284 |
| Hershey Bears | 70 | 38 | 28 | 4 | 80 | 256 | 242 |
| Springfield Indians | 70 | 27 | 37 | 6 | 60 | 268 | 254 |
| Providence Reds | 70 | 24 | 41 | 5 | 53 | 247 | 303 |
| New Haven Eagles† | 28 | 5 | 23 | 0 | 10 | 74 | 154 |
| West | GP | W | L | T | PTS | GF | GA |
|---|---|---|---|---|---|---|---|
| Cleveland Barons | 71 | 44 | 22 | 5 | 93 | 281 | 221 |
| Indianapolis Capitals | 70 | 38 | 29 | 3 | 79 | 287 | 255 |
| Pittsburgh Hornets | 71 | 31 | 33 | 7 | 69 | 212 | 177 |
| St. Louis Flyers | 70 | 32 | 34 | 4 | 68 | 233 | 252 |
| Cincinnati Mohawks | 70 | 28 | 34 | 8 | 64 | 203 | 228 |
Note: GP = Games played; G = Goals; A = Assists; Pts = Points; PIM = Penalty Minutes
| Player | Team | GP | G | A | Pts | PIM |
|---|---|---|---|---|---|---|
| Ab DeMarco | Buffalo Bisons | 64 | 37 | 76 | 113 | 35 |
| Grant Warwick | Buffalo Bisons | 65 | 34 | 65 | 99 | 43 |
| Jack McGill | Providence Reds | 69 | 29 | 69 | 98 | 58 |
| Fred Thurier | Cleveland Barons | 64 | 32 | 63 | 95 | 19 |
| George Sullivan | Hershey Bears | 70 | 28 | 56 | 84 | 36 |
| Max McNab | Indianapolis Capitals | 70 | 36 | 48 | 84 | 8 |
| Fred Glover | Indianapolis Capitals | 69 | 48 | 36 | 84 | 106 |
| Wally Hergesheimer | Cleveland Barons | 71 | 42 | 41 | 83 | 8 |
| Calder Cup Playoff champions: | Cleveland Barons |
| F. G. "Teddy" Oke Trophy Regular Season champions, West Division: | Cleveland Barons |
| Les Cunningham Award Most valuable player: | Ab DeMarco - Buffalo Bisons |
| Carl Liscombe Trophy Top point scorer: | Ab DeMarco - Buffalo Bisons |
| Dudley "Red" Garrett Memorial Award Rookie of the year: | Wally Hergesheimer - Cleveland Barons |
| Harry "Hap" Holmes Memorial Award Lowest goals against average: | Gil Mayer - Pittsburgh Hornets |