| 1940 VFA premiership season | |
|---|---|
 Port Melbourne FC, premiers | |
| Teams | 12 |
| Premiers | Port Melbourne 4th premiership |
| Minor premiers | Williamstown 2nd minor premiership |
The 1940 Victorian Football Association season was the 62nd season of the Australian rules football competition. The premiership was won by the Port Melbourne Football Club, which defeated Prahran by 47 points in the Grand Final on 5 October. It was Port Melbourne's first VFA premiership since 1922, and its fourth overall.