It was won by Real Madrid, marking the first of the club's 10 EuroLeague championships in its history.

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

**Benfica withdrew before the first leg and Legia Warsaw received a forfeit (2–0) in both games.

***PUC could not travel to Belgrade to play the first leg after all fights to the Yugoslavian capital were cancelled due to adverse weather.

Later, FIBA decided that this tie should be played as a single game in Paris (16 January 1964).