February 26 – Thomas Fine was three outs from consecutive no-hitters in the Caribbean Series, having allowed a single in the ninth inning to break it up, in an 11–3 Cuba's victory over Panama's Carta Vieja Yankees. His 17 consecutive hitless innings pitched record still as the longest in Series history.
March 24 – St. Louis Cardinalspitcher Bob Slaybaugh is hit in the left eye with a line drive, necessitating an operation to remove the eye. Slaybaugh will pitch briefly in the minors in 1953-54 and then retire.
Veteran Negro League catcher Quincy Trouppe makes his major league debut with the Cleveland Indians. At 39 years of age, he is one of the oldest rookies in major league history. Three days later, Trouppe is behind the plate when relief pitcher Toothpick Sam Jones enters the game, forming the first black battery in American League history.
Ted Williams hits a two run home run to break a 3-3 tie on "Ted Williams Day" at Fenway Park. It was Williams' final game of the season before his departure for the Korean War to serve as a Marine fighter pilot.
May 5 – Mickey Mantle's father dies of Hodgkin's Disease, and Mantle will miss six games while attending the funeral and seeing to family matters in Oklahoma.
May 21 – At Ebbets Field, the Brooklyn Dodgers set a Major League record by scoring 15 runs in the first inning of a 19-1 pounding of the Cincinnati Reds. All nine Dodgers in the starting lineup both score a run and bat in a run in that first inning.
May 29 – Boston Red Sox pitcher Mickey McDermott faces 27 batters and fire a one-hitter to beat the Washington Senators, 1–0, at Fenway Park. Mel Hoderlein's fourth-inning single is the only Washington hit and he is thrown out while trying to stretch the hit into a double.
June 25 – Chicago White SoxshortstopChico Carrasquel fractures his little finger in a play‚ which drops Chicago four games out of first place. Carrasquel will reinjure it on July 9 and be out of the lineup until August 19. The injury to Carrasquel‚ the starting shortstop for the American League in the MLB All-Star Game, is a key damage component as the White Sox will finish in third place.
October 7 – The New York Yankees defeat the Brooklyn Dodgers, 4–2, in the decisive Game 7 of the World Series to win their fourth straight World Championship title – tying the mark they set between 1936 and 1939 and fifteenth overall. Billy Martin saves the day by snaring a two-out, bases-loaded infield pop off the bat of Jackie Robinson. Gil Hodges goes hitless again and is 0-for-21 in the Series. This is the Yankees' third defeat of the Dodgers in six years.
The Pittsburgh Pirates draft relief pitcher Elroy Face from the Montreal Royals, the top minor league affiliate of the Brooklyn Dodgers. During a 15-year career with the Pirates, Face will lead the National League in saves three times and will be a three-time All-Star, as well as his amazing 18 relief wins in 1959 remains a major league record.
July 3 – Fred Tenney, 80, first baseman for 17 years, primarily with Boston; batted .300 six times
August 25 – Harry Maupin, 80, pitcher for two seasons, 1898–1899.
August 30 – Arky Vaughan, 40, a drowning victim, 9-time All-Star shortstop who was named the NL's MVP in 1935 by The Sporting News; career .318 hitter led NL in runs, triples and walks three times each
November 21 – Fred McMullin, 61, one of the eight White Sox players suspended for life for their part in the Black Sox scandal
November 29 – Arlie Latham, 92, first player to play 1500 games at third base; among all-time top 10 in runs upon retirement
December 29 – Bob Meinke, 65, appeared in two games for the Cincinnati Reds in 1910