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Date: 3 February 1948
| Rank | Name | Nation | Time |
| 1 | Nils Östensson; Nils Täpp; Gunnar Eriksson; Martin Lundström | SWE | 2:32:08 |
| 2 | Lauri Silvennoinen; Teuvo Laukkanen; Sauli Rytky; August Kiuru | FIN | 2:41:06 |
| 3 | Erling Evensen; Olav Økern; Reidar Nyborg; Olav Hagen | NOR | 2:44:33 |
| 4 | Josl Gstrein; Josef Deutschmann; Engelbert Hundertpfund; Karl Rafreider | AUT | 2:47:18 |
| 5 | Niklaus Stump; Robert Zurbriggen; Max Müller; Edy Schild | SUI | 2:48:07 |
| 6 | Vincenzo Perruchon; Silvio Confortola; Rizzieri Rodeghiero; Severino Compagnoni | ITA | 2:51:00 |
| 7 | René Jeandel; Gérard Perrier; Marius Mora; Benoît Carrara | FRA | 2:51:53 |
| 8 | Štefan Kovalčík; František Balvin; Jaroslav Zajiček; Jaroslav Cardal | TCH | 2:54:56 |
| 9 | Tone Razinger; Anton Pogačnik; Matevž Kordež; Jože Knific | YUG | 2:55:55 |
| 10 | Józef Daniel Krzeptowski; Stanisław Bukowski; Tadeusz Kwapień; Stefan Dziedzic | POL | 2:59:19 |
| 11 | Christof Frommelt; Arthur Meier; Xaver Frick; Egon Matt | LIE | 3:35:39 |