See also: 1938 in sports, Other events of 1939, 1940 in sports
Many sporting events did not take place because of World War II.
Baseball
- January 24: Hall of Fame election: The goal of 10 initial inductees from the 20th century is finally met as voters select George Sisler, Eddie Collins, and Willie Keeler.
- April 23: Pitcher Alejandro "Alex" Carrasquel made his major league debut with the Washington Senators. He became the first baseball player from Venezuela to play Major League Baseball.
- May 2: Cap Anson, Buck Ewing, Charles "Hoss" Radbourn, Albert Spalding, Charles Comiskey, and Candy Cummings are named to the Hall of Fame by a special committee, just weeks before the Hall opens. Along with the previous selections of Cy Young and Keeler in the writers' elections, Anson, Ewing and Radbourn arguably complete the 5 initial inductees from the 19th century which were promised but long delayed; Spalding, Comiskey and Cummings were largely elected as pioneers and contributors.
- June 12: The National Baseball Hall of Fame and Museum is dedicated in Cooperstown, New York.
- July 4: Lou Gehrig announces his retirement from the game at Yankee Stadium.
- World Series: New York Yankees defeat Cincinnati Reds, 4-0.
- December: A special election results in Lou Gehrig being selected to the Hall of Fame; he had announced his retirement after the Hall's June opening.