The 1945–46 season was Port Vale's third and final season of football in the wartime league system of World War II. Despite low expectations the club turned a profit in the Third Division (South) North, finishing third in the initial table. They reached the third round of the FA Cup, though ended the season with a disappointing finish in the Third Division (South) North Cup. Overall though the club were in healthy position to resume playing in the Football League the following season.