The Rovers gained their third Championship honours by winning the Third Division (North) title for the third time since 1935. They won less than half of their league fixtures, but on the other hand, they lost only six matches, and conceded just thirty-eight league goals.

The season began promisingly with an away win at Bradford City, before the Rovers shared in a disappointing home draw with Rochdale. However, this was only a temporary setback as the Rovers got off to a tremendous start with four wins from the next five games, before defeat was tasted for the first time, at Darlington. The Rovers form faltered slightly following this loss, and a number of matches were drawn, especially at home, but good away wins were also enjoyed at Rotherham, Mansfield, Wrexham and York City.

The second defeat of the season arrived on Christmas Even 1949, with a defeat at Chester, but the team recovered to draw both their other Christmas holiday games with New Brighton, before ending the first half of a highly successful season with a crushing home victory over Southport. Prior to the Southport game, Rovers manager Peter Doherty, paid a club record fee to Burnley for their centre-forward, Ray Harrison, with a view to increasing the Rovers relatively modest goal-scoring record. Harrison immediately set about repaying his fee, by scoring on his debut against the "Sandgrounders". The New Year opened with four consecutive home games which yielded seven points, but then Lincoln City gained a narrow victory via a single goal at Sincil Bank. Although the Rovers immediately bounced back with a smart win at Tranmere Rovers, there was particular disappointment at the end of the following week, when the Rovers lost their unbeaten home record to Crewe Alexandra.

Nevertheless, the tam were still in fine shape as the season entered its final, critical phase. The next seven games provided three wins and four draws, before Mansfield gained a shock win at Belle Vue in mid-April. Suddenly, the Rovers were beginning to feel a little bit of pressure, after doing so well for so long. The next game, at Crewe on the following Wednesday, was vital, and the team rose to the occasion by winning the game by two goals to nil, and then clinched the Championship with a point at Barrow on the following weekend. The season ended in slightly disappointing fashion with only one point from the last two games, but it really did not matter. The title had been won by two points from Gateshead, and Peter Doherty could proudly boast of a Championship as the Rovers manager.

The FA Cup saw the Rovers through to the fourth round, after beating New Brighton and Mansfield at home, and Reading away in the earlier rounds. They then gave First Division Blackpool a tremendous fight at Bloomfield Road, before losing very undeservedly by the odd goal in three.

Leading scorers (league): Doherty 27, Todd 9.