The 1960–61 FIBA European Champions Cup was the fourth season of the European top-tier level professional basketball club competition FIBA European Champions Cup (now called EuroLeague).

It was won by CSKA Moscow, after they defeated Rīgas ASK, the reigning three-time defending champions, and the first major dynasty of European professional club basketball .

CSKA lost the first game 66–61, but won the second 87–62, and thus became the fourth straight European champions from the Soviet Union League.

European national domestic league champions, plus the then current FIBA European Champions Cup title holders only, playing in a tournament system.

*The second leg was cancelled after the Yugoslavian police refused to guarantee the safety of the Belgian team, whose members received serious threats upon arrival to Belgrade, as a result of the mysterious death of Patrice Lumumba, Prime Minister of Congo, on February 11, 1961.