The Second National Hockey League All-Star Game took place at Chicago Stadium, home of the Chicago Stadium, on November 3, 1948. For the second year in a row, the game saw the Maple Leafs play a team of NHL all-stars. The All-Stars won the game 3–1.
| || NHL All-Stars || Toronto Maple Leafs
| Final score || 3 || 1
| Head coach || Tommy Ivan (Detroit Red Wings) || Hap Day (Toronto Maple Leafs)
| Scoring summary
- Lindsay (Richard, Lach), 1:35 2nd
- Dumart (unassisted), 3:06 2nd (GWG)
- G. Stewart (D. Bentley), 19:32 2nd (PPG)
- M. Bentley (Costello), 5:13 2nd
- Reardon, 1st
- Howe, major 2nd
- J. Stewart, 2nd
- Bouchard, 2nd
- Bouchard, 3rd
- Ezinicki, 1st
- Mortson, major 2nd
- Juzda, 2nd
| Win/Loss || W - Frank Brimsek || L - Turk Broda
- Note 1: Named to the First All-Star Team in 1947–48.
- Note 2: Named to the Second All-Star Team in 1947–48.
- Podnieks, Andrew (2000), The NHL All-Star Game: Fifty Years of the Great Tradition, Toronto: HarperCollins, ISBN 0-00-200058-X