north (3rd) v melbourne (4th)
dees knock roos out they will play geelong in the prelim final.
| Q1 | Q2 | Q3 | Q4 | Score | Date / Result | Ground | Crowd | Gate | |
| Melbourne | 1.4 | 4.7 | 9.11 | 16.14 | 110 | Sat 4-Sep-1954 2:30 pm | M.C.G. | 42,166 | £6,019 |
| North Melbourne | 3.4 | 5.7 | 7.12 | 11.14 | 80 | Melbourne won by 30 points | |||
geelong (1st) v footscray (2nd)
dogs make grand for the first time beating cats by 23 who will have to beat melbourne to get to a 4th straight grand.
| Q1 | Q2 | Q3 | Q4 | Score | Date / Result | Ground | Crowd | Gate | |
| Geelong | 4.5 | 4.8 | 7.10 | 8.14 | 62 | Sat 11-Sep-1954 2:30 pm | M.C.G. | 64,686 | £10,287 |
| Footscray | 3.1 | 7.7 | 7.10 | 11.19 | 85 | Footscray won by 23 points | |||
prelim final
geelong v melbounre