It took place on 16 October 1938 at Briskeby gressbane in Hamar.

The match was Fredrikstad's fourth and Mjøndalen's seventh appearance overall and Mjøndalen's third consecutive final appearance.

[1] Fredrikstad won the match 3–2, after the game had ended at a 2–2 draw after ordinary time.

Goals were scored by Thorleif Larsen after five minutes and Knut Brynildsen, on a penalty kick after 40 minutes for Fredrikstad; Mjøndalen reduced with goals by Trygve Halvorsen and Jørgen Hval after 60 and 63 minutes, respectively.

The decisive goal was scored by Arne Ileby after 100 minutes, securing Fredrikstad their fourth cup title.