Derby County were the winners, beating Charlton Athletic 4–1 after extra time in the final at Wembley, London.
If aggregate scores were level after 90 minutes of the second leg had been played, a replay would take place at a neutral venue.
These changes were made in order to give clubs additional revenue, as the Football League would not resume normal play until the autumn of 1946.
As with the 1919–20 tournament, participant numbers were down this season after many clubs from the lower echelons of the English football system did not resume after the Second World War.
Local leagues across the UK were reeling after seven seasons of competitive hiatus, while other stronger clubs such as Burton Town were unable to survive the loss of regular income streams during wartime.
The final took place on Saturday, 27 April 1946 at Wembley and ended in a 4–1 win for Derby County after extra time.