The club won its first FA Cup thanks to a 2–1 extra time victory against Leeds United in the final.

The club's first final for 15 years saved a season in which Liverpool slipped from first to seventh in the league, and controversially collapsed at the hands of Inter in the European Cup semi-finals, in the club's first season in European competition.

Liverpool experimented with red shirts, shorts and socks during this season.

The all red strip was used only in a number of European Cup and FA Cup matches, with League matches played in white shorts.

The club permanently switched to a full red strip at the start of the 1965–66 season.