The 1500 metres speed skating event was part of the speed skating at the 1948 Winter Olympics programme.

Forty-five speed skaters from 14 nations competed.

(*) The record was set in a high altitude venue (more than 1000 metres above sea level) and on naturally frozen ice.

All three medalists were faster than the standing Olympic record.

Sverre Farstad set the new Olympic record with a time of 2:17.6 seconds.