Short answer: yes. It will have slightly higher HP as well. The 350 engine, if complete, will have all the provisions for engine driven hydraulics. If it has the pump, and you aren't going to use it, it will need to be replaced by the spacer housing that holds the distributor for the H. You can throw the pump out in my scrap bin (where it will be promptly retrieved and put on my H).

I'd seriously consider using the live hydraulic feature of the 350 engine. There should be a good number of posts on YT about such an improvement for the H.
 
As posted the lever coming out of governor needs the H type installed or the complete H governor installed. Trouble with the complete H governor is the throttle tube carburetor is longer than a 350. Sometimes the head studs on a 350 don't have enough threads showing above head to get a full nut on after installing the H throttle bracket. Unless rigging up hydraulics from engine pump to the H you need to find a ignition drive housing from about half year 1950 H up or a SH or modify your H bracket. Housing with correct bolt pattern for a 350 front cover will have a 6 number casting then end in R1. Line out back of H head to air cleaner intake can be rerouted to the opening in top of 350 valve cover. Just install the H fan on the 350. If the H coolant pump is used with a 350 crankshaft pulley the fan belt won't work. If the 41 still has the rubber engine mounts at the frame rails, would recommend getting latter frame rails and installing the solid mounting blocks or rework bolt holes in your frames to work.
 
Also if you use a SH, 300 or 350 carburetor the carb inlet is a bigger OD. I installed a air cleaner and pipe off of a SH
 
"Slightly higher hp" is a bit of an understatement - the 350 outpowered the H by over 50% on the
belt according to the Nebraska test reports.

I'd sure agree with you on the live hydraulics. If you're using an engine already equipped with
the live pump it would make sense to use it, especially since the tractor won't be "original"
anymore anyway. In my opinion having a live hydraulic system is more important to the usefulness
of an old tractor than even a live PTO. If the live pump does end up in your scrap pile you'd
better have a good watch dog because you might have some unwelcome competition in retrieving it!
 

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