| 1. Jornada | 22.11.1931 | Alavés | - | Real Racing | 1:2 |  |
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| 2. Jornada | 29.11.1931 | Real Racing | - | Espanyol | 2:1 | ||||
| 3. Jornada | 20.12.1931 | Arenas de Getxo | - | Real Racing | 3:1 | |
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| 4. Jornada | 27.12.1931 | Real Racing | - | Real Unión | 2:2 | ||||
| 5. Jornada | 03.01.1932 | Barcelona | - | Real Racing | 4:2 | ||||
| 6. Jornada | 10.01.1932 | Real Racing | - | Valencia | 4:1 | |
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| 7. Jornada | 17.01.1932 | Donostia FC | - | Real Racing | 1:5 | ||||
| 8. Jornada | 24.01.1932 | Real Racing | - | Real Madrid | 0:0 | ||||
| 9. Jornada | 31.01.1932 | Athletic | - | Real Racing | 3:2 | ||||
| 12. Jornada | 21.02.1932 | Real Racing | - | Arenas de Getxo | 1:1 | ||||
| 13. Jornada | 28.02.1932 | Real Unión | - | Real Racing | 2:2 | |
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| 14. Jornada | 06.03.1932 | Real Racing | - | Barcelona | 3:2 | |
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| 15. Jornada | 13.03.1932 | Valencia | - | Real Racing | 6:4 | |
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| 16. Jornada | 20.03.1932 | Real Racing | - | Donostia FC | 2:1 | |
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| 17. Jornada | 27.03.1932 | Real Madrid | - | Real Racing | 0:0 | ||||
| 18. Jornada | 03.04.1932 | Real Racing | - | Athletic | 2:0 |
España