The 1949 FA Charity Shield was the 27th FA Charity Shield, a pre-season exhibition football match between the winners of the previous season's First Division and FA Cup titles. The match took place at Highbury, London, between the league champions Portsmouth and FA Cup winners Wolverhampton Wanderers. The score finished at 1–1,^[1] marking the first draw in the Charity Shield and meaning the Shield was shared.

19 October 1949

Portsmouth	1–1	Wolverhampton Wanderers
Reid 30'		Hancocks 65' (pen.)

Highbury, London

Attendance: 35,140

Portsmouth

Wolverhampton Wanderers

1 Ernest Butler 2 Billy Hindmarsh 3 Harry Ferrier 4 Jimmy Scoular 5 Bill Thompson 6 Jimmy Dickinson 7 Peter Harris 8 Duggie Reid 9 Ike Clarke 10 Bert Barlow 11 Jack Froggatt Manager: Bob Jackson

1 Dennis Parsons 2 Laurie Kelly 3 Terry Springthorpe 4 Eddie Russell 5 Bill Shorthouse 6 Billy Crook 7 Johnny Hancocks 8 Sammy Smyth 9 Jesse Pye 10 Jimmy Dunn 11 Jimmy Mullen Manager: Stan Cullis

• The Football League 1948–49
• FA Cup 1948–49