The 1848 Grand National Steeplechase was the tenth official annual running of a handicap steeplechase horse race at Aintree Racecourse near Liverpool on Wednesday, 1 March. It attracted a then record, field of 29 competitors for a prize valued at £1,015 to the winner.

The race was won by Lieutenant Josey Little on Captain William Peel's Chandler trained by Tom Eskrett. Lieutenant Little wore Captain Peel's colours of white silks with black sleeves and cap. The horse won in a time of 11 minutes and 21 seconds, forty-two seconds slower than the course record set the previous year. With the proceeds of the race Lieutenant Little was able to purchase his promotion to the rank of captain in the 1st King's Dragoon Guards. Tom Olliver earned the distinction of being the only rider to have taken part in all ten official renewals of the race, finishing second on The Curate. The race was marred by the fatal falls of three competitors at the same fence in the latter stages of the second circuit, taking the total number of fatalities in the history of the race to five.

The construction of the Liverpool to Bury Railway cut into the course immediately after Becher's Brook, which necessitated that the runners turn slightly to the left after the jump. This line to modern day Foinavon and The Canal Turn has remained the same since.

The posts and rails at both Brooks were removed and many of the hedges appeared to have been cut lower than in previous years. This caused much criticism from spectators.

The race was started from the lane that separated the racecourse from the line of country the runners would race. They would jump the four natural banks that separated the four fields that they would cross to reach Becher's Brook, which was now just a small bank and brook beyond. Two fences were taken on the slightly new line to take the runners towards the Canal Turn, the second of which was a double fence with a rivulet through it. The Canal Turn itself was a Timber fence before the runners jumped the second brook. A new fence was added after this, described as a strong post and rails. The remainder of the Canal side of the course consisted of a bank and ditch followed by another newly installed artificial water jump beyond a post, rails and hedge, which attracted a lot of spectator attention. The rails at Mess Bridge lane were removed, creating a long run back to the stands to jump the Chair and the water jump before completing the first circuit by jumping the sunken lane.

The runners covered the same line of country again before taking a wider line onto the course to jump two hurdles before the finish.

The weather in the days leading up to the race was rainy, making travelling to the course from Liverpool on the wet muddy roads treacherous. This saw a reduction on the crowd size with notably fewer ladies in the more expensive areas of the stands.

The weather also led to the withdrawal of eight runners from the published race card, though still left a record field of twenty-nine starters. The press focused heavily on the participation of famed bare knuckle Boxer, Johnny Broome, as he had laid two heavy bets, one that he would be within four fields of the leader when they jumped the Chair and secondly that Blue Pill would win