| 0 | - | cover | 1 | pencils: Marc Swayze; inks: Marc Swayze | Billy Batson, Mary Batson First, Captain Marvel, Captain Marvel Jr., Freddy Freeman, Mary Marvel First, Shazam |
| 1 | - | promo (ad from the publisher) | 1 | | Alan Armstrong, Billy Batson, Bulletgirl, Bulletman, Captain Marvel, Captain Marvel Jr., Captain Midnight, Freddy Freeman, Ibis, Mr. Scarlet, Spy Smasher, Jim Albright, Jim Barr, Brian Butler |
| 2 | Wow Wishes You a Merry Christmas! | table of contents | 1 | pencils: Marc Swayze; inks: Marc Swayze | Mary Batson First, Mary Marvel First |
| 3 | The Night Before Christmas | comic story | 14 | script: Otto Binder; pencils: Marc Swayze; inks: Marc Swayze | Billy Batson, Mary Batson First, Captain Marvel, Mary Marvel First, Mr. Scarlet, Pinky the Whiz Kid, Brian Butler, Pinky Butler |
| 4 | Last Ship from Marseilles | text story | 2 | script: Nathaniel Nitkin | Conklin; Pierre Desmoulins; Etienne de Lannec; Kurt von Schroeder; Mr. Waithe |
| 5 | - | promo (ad from the publisher) | 0.75 | | Billy Batson, Captain Marvel, Santa Claus |
| 6 | - | statement of ownership | 0.25 | script: Gordon Fawcett | |
| 7 | The Mystery of the Make-Believe Mastermind! | comic story | 14 | script: Henry Lynne Perkins; pencils: Binder Studio; inks: Binder Studio | Mr. Scarlet, Pinky the Whiz Kid |
| 8 | Down Under | comic story | 13 | | Phantom Eagle |
| 9 | Creepy Fantasy | comic story | 6 | script: Dave Berg; pencils: Dave Berg; inks: Dave Berg | Spooks; Bensonhurst; Tony Dominic; Looey-the-Lug; Peggy Ann Dominic |
| 10 | The Terrific Toy | comic story | 13 | script: Otto Binder | Commando Yank |
| 11 | - | promo (ad from the publisher) | 1 | pencils: ?; ? (photograph); inks: ?; ? (photograph) | Hopalong Cassidy (photo of Bill Boyd) |
| 12 | - | promo (ad from the publisher) | 1 | pencils: ?; ? (photograph); inks: ?; ? (photograph); letters: ?; typeset | Billy Batson, Captain Marvel |