| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Luton Town | 42 | 58 | +50 | 27 | 4 | 11 | 103 | 53 |
| 2 | Notts. County | 42 | 56 | +22 | 23 | 10 | 9 | 74 | 52 |
| 3 | Brighton & Hove Albion | 42 | 53 | +31 | 24 | 5 | 13 | 74 | 43 |
| 4 | Watford | 42 | 49 | +25 | 19 | 11 | 12 | 85 | 60 |
| 5 | Reading | 42 | 49 | +16 | 19 | 11 | 12 | 76 | 60 |
| 6 | Bournemouth & Boscombe Ath. | 42 | 49 | +6 | 20 | 9 | 13 | 65 | 59 |
| 7 | Northampton Town | 42 | 46 | +17 | 20 | 6 | 16 | 85 | 68 |
| 8 | Millwall | 42 | 46 | +10 | 18 | 10 | 14 | 64 | 54 |
| 9 | Queens Park Rangers | 42 | 45 | +21 | 18 | 9 | 15 | 73 | 52 |
| 10 | 42 | 45 | +11 | 17 | 11 | 14 | 78 | 67 | |
| 11 | Gillingham | 42 | 44 | -14 | 18 | 8 | 16 | 52 | 66 |
| 12 | Clapton Orient | 42 | 43 | 0 | 14 | 15 | 13 | 52 | 52 |
| 13 | Swindon Town | 42 | 39 | +2 | 14 | 11 | 17 | 75 | 73 |
| 14 | Crystal Palace | 42 | 38 | +1 | 13 | 12 | 17 | 62 | 61 |
| 15 | Bristol Rovers | 42 | 36 | -9 | 16 | 4 | 22 | 71 | 80 |
| 16 | Bristol City | 42 | 36 | -12 | 15 | 6 | 21 | 58 | 70 |
| 17 | Walsall | 42 | 36 | -22 | 13 | 10 | 19 | 63 | 85 |
| 18 | Cardiff City | 42 | 35 | -33 | 14 | 7 | 21 | 54 | 87 |
| 19 | Newport County | 42 | 34 | -31 | 12 | 10 | 20 | 67 | 98 |
| 20 | 42 | 32 | -23 | 11 | 10 | 21 | 57 | 80 | |
| 21 | Exeter City | 42 | 32 | -29 | 10 | 12 | 20 | 59 | 88 |
| 22 | Aldershot | 42 | 23 | -39 | 7 | 9 | 26 | 50 | 89 |