| Candidate | Party | Votes | % | |
|---|---|---|---|---|
| Manuel Roxas | Nacionalista Party (Liberal wing)[a] | 1,333,006 | 53.93 | |
| Sergio Osmeña | Nacionalista Party[a] | 1,129,994 | 45.72 | |
| Hilario Moncado | Modernist Party | 8,538 | 0.35 | |
| Total | 2,471,538 | 100.00 | ||
| Valid votes | 2,471,538 | 95.17 | ||
| Invalid/blank votes | 125,342 | 4.83 | ||
| Total votes | 2,596,880 | 100.00 | ||
| Registered voters/turnout | 2,898,604 | 89.59 | ||
| Source: Nohlen, Grotz, Hartmann, Hasall and Santos[1] | ||||
- ^ a b The Nacionalista Party was split into two wings: those who supported Osmeña or the "conservative wing", and those who supported Roxas or the "liberal wing". The liberal wing eventually split off after the election and became the Liberal Party.
- ^ Dieter Nohlen; Florian Grotz; Christof Hartmann; Graham Hassall; Soliman M. Santos.
Elections in Asia and the Pacific: A Data Handbook: Volume II: South East Asia, East Asia, and the South Pacific.