The 1928–29 season was Real Madrid Club de Fútbol's 27th season in existence, and their first in the Primera División, the top flight of Spanish football.

The club also played in the Campeonato Regional Centro (Central Regional Championship) and the Copa del Rey.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Players may hold more than one non-FIFA nationality.

Source: Competitions