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The Demons returned to the MCG after spending almost five years playing at Punt Road while their home was in use by the military but on field they went backwards, failing to make the top four after reaching the Grand Final in 1946.
A pre-season practice match against North Melbourne was cancelled because the VFL would not approve the match.
A six game winning streak early in the season was balanced by a six game losing streak to follow, and by the time they regained their form in the last few games the Demons had lost their position in the four and couldn't get back in. They had paid the penalty for fielding a top-heavy side of tall forwards who couldn't cope when the wet and windy winter conditions settled in.
With nothing to play for in the last game of the season, Fred Fanning set the all-time league record for goals in a game by kicking 18. Fanning and Shane McGrath were Melbourne's contribution to the championship winning Victorian interstate carnival side.
The Thirds finished on top of the ladder in the second year of the competition and won their first premiership.
Early in the season the club tried to organise a game in Broken Hill for Wednesday 30 July, but the locals rejected the offer as they deemed a mid-week game unsuitable.
Best and Fairest
1947 Thirds season
The teams played an uneven number of matches, with all clubs except North Melbourne, Richmond, Carlton, Essendon and St Kilda having two byes each.