The 1942–43 Division 2 season was the second tier of ice hockey in Sweden in for the 1942–43 season. The league operated a system of promotion and relegation, to the first-tier Svenska Serien and to district-level hockey leagues. The league consisted of four groups, two with seven clubs (north and east) and two with six (central and south), giving a total of 26 clubs. The group winners, Brynäs IF (north), IF Aros (central), Nacka SK (east), and Årsta SK (south) won their groups, and continued to play in a qualifier for promotion to Svenska Serien, which resulted in Brynäs and Nacka being promoted to the 1943–44 Svenska Serien. IFK Stockholm finished last in Division 2 North, and as a result were relegated to their local level hockey league.