In
| Player | Team | Date | Fee |
|---|---|---|---|
| Dave Hickson | Ellesmere Port Town | 13 May 1948 | Free |
| Aubrey Powell | Leeds United | 7 July 1948 | £11,000 |
| Harry McCormick | Derby County | 13 July 1948 | £2,000 |
| Dave Gibson | St Sylvester's Evening Institute | 14 July 1948 | Amateur |
| Danny Cameron | Shelbourne | 19 July 1948 | £1,000 (+£1,000 add-ons) |
| Peter Corr | Preston North End | 12 August 1948 | £2,500 |
| Albert Juliussen | Portsmouth | 4 September 1948 | £10,500 |
| Eric Moore | Haydock C & B | 15 February 1949 | £295 |
| Jimmy McIntosh | Blackpool | 1 March 1949 | £5,500 |
| Total (initial fees only): | £32,795 | ||
- Aubrey Powell (Leeds United) – Deal was agreed on 26th June 1948 but was not fully completed until Everton secretary Theo Kelly returned from his trip to Holland.
- Dave Gibson (St Sylvester's Evening Institute) – Signed professional forms on 1st August 1950.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Tom Gardner | Released | 2 May 1948 | |
| Albert Johnson | Chesterfield | September 1948 | £2,250 |
| Jock Dodds | Lincoln City | 4 October 1948 | £6,000 |
| Total (initial fees only): | £8,250 | ||
- Tom Gardner (Released) – Eventually joined South Liverpool in July 1948.
- Albert Johnson (Chesterfield) – Transfer completed around 7th September 1948.
| Income | £8,250 |
| Expenditure | £32,795 |
| Net Spend | +£24,545 |