The 1949 Titleholders Championship was contested from March 17-20 at Augusta Country Club. It was the 10th edition of the Titleholders Championship.
This event was won by Peggy Kirk.
| # | Player | Country | Score | To par |
|---|---|---|---|---|
| 1 | Peggy Kirk (a) | United States | 76-75-76-72=299 | −1 |
| T2 | Patty Berg | United States | 77-77-75-72=301 | +1 |
| Dorothy Kirby (a) | United States | 76-75-74-76=301 | ||
| 4 | Babe Zaharias | United States | 73-81-77-73=304 | +4 |
| 5 | Dot Kielty (a) | United States | 73-79-77-77=306 | +6 |
| 6 | Louise Suggs | United States | 80-72-78-78=308 | +8 |
| 7 | Estelle Lawson Page (a) | United States | 79-77-79-76=311 | +11 |
| 8 | Marjorie Lindsay (a) | United States | 74-81-78-80=313 | +13 |
| T9 | Betty Bush (a) | United States | 87-77-75-80=319 | +19 |
| Helen Sigel (a) | United States | 77-86-74-82=319 |
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