Holker Street | Saturday 20 April 1940
| Barrow | 2 | - | 0 | Liverpool |
| Aggregate score: 2 - 0 | ||||
| 1 | Eric Holmes Mansley |
| 2 | Ray Lambert |
| 3 | Jim Harley |
| 4 | Matt Busby |
| 5 | Fred Rogers |
| 6 | Bob Paisley |
| 7 | Billy Liddell |
| 8 | Stanley Eastham |
| 9 | Berry Nieuwenhuys |
| 10 | Len Carney |
| 11 | Harman van den Berg |