| Colour Coding |
| Promoted to FL Division Two |
| Playoff for promotion to FL Division Two |
| Stay in this Division |
| Relegated to Football Conference |
| Football League Division Three | |||||||||
| Pos | Team | P | W | D | L | F | A | GD | Pts |
| 1 | Doncaster Rovers (P) | 46 | 27 | 11 | 8 | 79 | 37 | 42 | 92 |
| 2 | Hull City | 46 | 25 | 13 | 8 | 82 | 44 | 38 | 88 |
| 3 | Torquay United | 46 | 23 | 12 | 11 | 68 | 44 | 24 | 81 |
| 4 | Huddersfield Town (R) | 46 | 23 | 12 | 11 | 68 | 52 | 16 | 81 |
| 5 | Mansfield Town (R) | 46 | 22 | 9 | 15 | 76 | 62 | 14 | 75 |
| 6 | Northampton Town (R) | 46 | 22 | 9 | 15 | 58 | 51 | 7 | 75 |
| 7 | Lincoln City | 46 | 19 | 17 | 10 | 68 | 47 | 21 | 74 |
| 8 | Yeovil Town (P) | 46 | 23 | 5 | 18 | 70 | 57 | 13 | 74 |
| 9 | Oxford United | 46 | 18 | 17 | 11 | 55 | 44 | 11 | 71 |
| 10 | Swansea City | 46 | 15 | 14 | 17 | 58 | 61 | -3 | 59 |
| 11 | Boston United | 46 | 16 | 11 | 19 | 50 | 54 | -4 | 59 |
| 12 | Bury | 46 | 15 | 11 | 20 | 54 | 64 | -10 | 56 |
| 13 | Cambridge United | 46 | 14 | 14 | 18 | 55 | 67 | -12 | 56 |
| 14 | Cheltenham Town (R) | 46 | 14 | 14 | 18 | 57 | 71 | -14 | 56 |
| 15 | Bristol Rovers | 46 | 14 | 13 | 19 | 50 | 61 | -11 | 55 |
| 16 | Kidderminster Harriers | 46 | 14 | 13 | 19 | 45 | 59 | -14 | 55 |
| 17 | Southend United | 46 | 14 | 12 | 20 | 51 | 63 | -12 | 54 |
| 18 | Darlington | 46 | 14 | 11 | 21 | 53 | 61 | -8 | 53 |
| 19 | Leyton Orient | 46 | 13 | 14 | 19 | 48 | 65 | -17 | 53 |
| 20 | Macclesfield Town | 46 | 13 | 13 | 20 | 54 | 69 | -15 | 52 |
| 21 | Rochdale | 46 | 12 | 14 | 20 | 49 | 58 | -9 | 50 |
| 22 | Scunthorpe United | 46 | 11 | 16 | 19 | 69 | 72 | -3 | 49 |
| 23 | Carlisle United | 46 | 12 | 9 | 25 | 46 | 69 | -23 | 45 |
| 24 | York City | 46 | 10 | 14 | 22 | 35 | 66 | -31 | 44 |