All teams participated in a single-match round-robin, resulting in eight games for each team. In case of a tie for best record at the end of the round-robin, a single playoff game would be held to determine the overall winner.

•   Venezuela
  • Héctor Benítez collected at least one hit in each of his nine games and led the series with three triples.
  • Daniel Canónico (4–0, 1.69 ERA) was the most dominant pitcher in the series, winning five of the team's games including the series-tying and deciding games against Cuba. He would go on to a career as a player and manager in the Venezuelan Professional Baseball League.
  • José Antonio Casanova earned the Most Valuable Player award for the tournament.
  • José Pérez Colmenares drove in five runs and scored 11 times in the nine contests.
  • Chucho Ramos was on the team as an outfielder and would have a brief stint with the Cincinnati Reds in 1944.^[2]
  • Dalmiro Finol, who years later would hit the first home run in Venezuelan professional baseball (1946) as well as the first homer in Caribbean Series history (1949).

•   Cuba
  • Bernardo Cuervo hit a .400 average and led the tournament with 10 runs batted in.
  • Andrés Fleitas (.378) was the brother of Washington Senators shortstop Ángel Fleitas.^{[citation needed]}
  • Clemente González (.395) had the most hits in the tournament with 17.
  • Connie Marrero (3-0, 0.46 ERA) was very effective during round-robin play, but suffered the loss in the playoff game.
  • Rogelio Martínez (2-0, 0.00 ERA) would have a cup of coffee with the Washington Senators in 1950.^[3]
  • Julio Moreno (1-1, 1.29 ERA) was another effective pitcher for the team. He went on to play four seasons with the Washington Senators in the early 1950s.^[4]
  • Tony Ordeñana (.256) led the tournament with 14 runs scored, and go on to play a single major league game with the Pittsburgh Pirates in 1943.^[5]
  • Nap Reyes (.343) contributed for a second Amateur World Series.

•   Mexico
  • Victor Canales hit five doubles to lead the tournament and would go on to play for several years in the minor leagues.

•   Panama
  • León Kellman hit the only home run of the series and would go on to a career in the Negro leagues and Mexican League.^{[citation needed]}
  • Pat Scantlebury pitched for the team and would go on to have a long Negro leagues career as well as a short stint with the Cincinnati Reds.^{[citation needed]}

•   Nicaragua
  • Carlos Navas would take the base stealing title for the tournament by swiping six bags.

•   Puerto Rico
  • Miguel Angel Jimenez - Pitcher

• Historia de la Copa Mundial (1938-1948) (Spanish)
• IV Serie Mundial de Béisbol Amateur – 1941 (Spanish)