Following the organization of Bad Nauheim 1936, a double round robin was organized to be played in three cities from July 18th to the 27th, 1937. Four players were invited to participate, including the world champion Max Euwe, former world champion and current vice-champion Alexander Alekhine, former world vice-champion Efim Bogoljubov, and German chess champion Friedrich Sämisch. The first two rounds were played in the bath resort of Bad Nauheim, the third and fourth rounds were played in the city of Stuttgart, and the fifth and final rounds were played in the city of Garmisch-Partenkirchen. In the two years between world championships, Alekhine had been earning a number of victories as part of his campaign for a rematch with Euwe, but in this instance the world champion held Alekhine off for a tournament win of his own. Despite dropping a game to shared second Bogoljubov (who went on a winning streak in the second half, winning all three of his games), Euwe managed to finish clear first a half point ahead of second, picking up a win against Alekhine in the process. Alekhine would shortly go on to win his revenge as not long after this event he would win the rematch for the world championship against Euwe.

The final standings and crosstable:

1st Euwe 4/6 ** ½0 1½ 11

=2nd Bogoljubov 3½/6 ½1 ** 01 01

=2nd Alekhine 3½/6 0½ 10 ** 11

4th Sämisch 1/6 00 10 00 **