The 1923 VFL Grand Final was an Australian rules football game contested between the Essendon Football Club and Fitzroy Football Club, held at the Melbourne Cricket Ground in Melbourne on 20 October 1923. It was the 26th annual Grand Final of the Victorian Football League, staged to determine the premiers for the 1923 VFL season. The match, attended by 46,566 spectators, was won by Essendon by a margin of 17 points, marking that club's fifth premiership victory.