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Date: 12 August 1948
Heats
Final
| Rank | Name | Nation | Time |
| 1 | Gert Fredriksson | SWE | 4:33.2 |
| 2 | Johan Andersen | DEN | 4:39.9 |
| 3 | Henri Eberhardt | FRA | 4:41.4 |
| 4 | Hans Gulbrandsen | NOR | 4:41.7 |
| 5 | Willem Van der Kroft | NED | 4:43.5 |
| 6 | Harry Akerfelt | FIN | 4:44.2 |
| 7 | Lubomir Vambera | TCH | 4:44.3 |
| 8 | Walter Piemann | AUT | 4:50.3 |
| Heats | |||
| 9 | Czeslaw Sobieraj | POL | 4:46.5 |
| 10 | Thomas Horton | USA | 4:58.0 |
| 11 | Kalman Blaho | HUN | 4:59.8 |
| 12 | Juliaan Boogaert | BEL | 5:00.1 |
| 12 | Norman Dobson | GBR | 5:00.1 |
| 14 | Hans Straub | SUI | 5:05.5 |
| 15 | Marcel Lentz | LUX | 5:10.8 |