The football tournament at the 1938 Central American and Caribbean Games was held in Panama City from 10 to 23 February.

The gold medal was won by Mexico for the second time, who earned 9 points.

Abandoned at 1–2 in 69' when Colombia walked off because of a penalty award against them; Alejandro Morera scored for Costa Rica against an empty goal, but result counted as 1–2.

There were 67 goals scored in 15 matches, for an average of 4.47 goals per match.

10 goals 6 goals 5 goals 4 goals 3 goals 2 goals 1 goal 1 own goal Source:[4] Milton Valverde Severino Lugo Rodolfo Muñoz Alejandro Morera James Anderson Horacio Casarín Oscar Bolaños