The 1942 Memorial Cup final was the 24th junior ice hockey championship of the Canadian Amateur Hockey Association. The George Richardson Memorial Trophy champions Oshawa Generals of the Ontario Hockey Association in Eastern Canada competed against the Abbott Cup champions Portage la Prairie Terriers of the Manitoba Junior Hockey League in Western Canada. In a best-of-five series, held at Shea's Amphitheatre in Winnipeg, Manitoba, Portage la Prairie won their 1st Memorial Cup, defeating Oshawa 3 games to 1.
- Game 1: Portage la Prairie 5-1 Oshawa
- Game 2: Portage la Prairie 8-7 Oshawa
- Game 3: Oshawa 8-4 Portage la Prairie
- Game 4: Portage la Prairie 8-2 Oshawa