| 6th South American Basketball Championship | |
|---|---|
| Tournament details | |
| Host country | Peru |
| Dates | 12-22 February |
| Teams | 5 |
| Venue(s) | 1 (in 1 host city) |
| Final positions | |
| Champions |  Peru (1st title) |
The 1938 South American Basketball Championship was the 6th edition of this tournament. It was held in Lima, Peru and won by the host, Peru national basketball team. 5 teams competed, including Ecuador in their first appearance.
Each team played the other four teams once, for a total of four games played by each team and 10 overall in the tournament.
| Rank | Team | Pts | W | L | PF | PA | Diff |
|---|---|---|---|---|---|---|---|
| 1 |  Peru | 8 | 4 | 0 | 203 | 167 | +36 |
| 2 |  Argentina | 7 | 3 | 1 | 218 | 180 | +38 |
| 3 |  Uruguay | 6 | 2 | 2 | 160 | 139 | +21 |
| 4 |  Brazil | 5 | 1 | 3 | 174 | 195 | -21 |
| 5 |  Ecuador | 4 | 0 | 4 | 132 | 206 | -74 |
| Peru | 61 - 55 | Argentina |
| Peru | 42 - 36 | Uruguay |
| Peru | 50 - 47 | Brazil |
| Peru | 50 - 29 | Ecuador |
| Argentina | 46 - 39 | Uruguay |
| Argentina | 60 - 38 | Brazil |
| Argentina | 57 - 42 | Ecuador |
| Uruguay | 45 - 30 | Brazil |
| Uruguay | 40 - 21 | Ecuador |
| Brazil | 59 - 40 | Ecuador |
