The men's freestyle lightweight competition at the 1948 Summer Olympics in London took place from 29 July to 31 July at the Empress Hall, Earls Court Exhibition Centre.

[1] Lightweight was the fourth-lightest category, including wrestlers weighing 62 to 67 kilograms (136.7 to 147.7 lb).

[2] This freestyle wrestling competition continued to use the "bad points" elimination system introduced at the 1928 Summer Olympics for Greco-Roman and at the 1932 Summer Olympics for freestyle wrestling, with the slight modification introduced in 1936.

At the end of each round, any wrestler with at least 5 points was eliminated.

Atik defeated Frändfors to take the gold medal.