Other Leagues: Major Leagues, NL
Pennant Winner: New York Yankees
AL Most Valuable Player: Phil Rizzuto
AL Rookie of the Year: Walt Dropo
| Award | Player | Stats |
|---|---|---|
| Most Valuable Player Award | Phil Rizzuto | NYY 155 G .324/.418/.439 |
| Rookie of the Year Award | Walt Dropo | BOS 136 G .322/.378/.583 |
| Batting Champion (highest BA as recognized at time) | Billy Goodman | BOS 110 G .354/.427/.455 |
| ERA Pitching Champion (lowest ERA as recognized at time) | Early Wynn | CLE 18-8, 3.20, 143 SO |
| TSN Pitcher of the Year | Bob Lemon | CLE 23-11 (3 SV), 3.84, 170 SO |
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