| 2. Round | 29/11/1931 | Racing Santander | - | Espanyol Barcelona | 2:1 |  |
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| 4. Round | 27/12/1931 | Racing Santander | - | Real Unión | 2:2 | |
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| 6. Round | 10/01/1932 | Racing Santander | - | Valencia CF | 4:1 | ||||
| 9. Round | 31/01/1932 | Athletic Club | - | Racing Santander | 3:2 | |
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| 10. Round | 07/02/1932 | Racing Santander | - | CD Alavés | 1:1 | ||||
| 11. Round | 16/02/1932 | Espanyol Barcelona | - | Racing Santander | 6:1 | ||||
| 12. Round | 21/02/1932 | Racing Santander | - | Arenas de Getxo | 1:1 | |
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| 16. Round | 20/03/1932 | Racing Santander | - | Donostia FC | 2:1 | |
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| 17. Round | 27/03/1932 | Real Madrid | - | Racing Santander | 0:0 | ||||
| 18. Round | 03/04/1932 | Racing Santander | - | Athletic Club | 2:0 | |
Spain