Stoke City beat Everton 3–2 at Selhurst Park in a third-place playoff, held the day before the final.
Tottenham Hotspur beat Aston Villa to win the 1971 Football League Cup Final and add to their list of trophies won under the management of Bill Nicholson.
Arsenal secured the league title at White Hart Lane, the home of bitter rivals Tottenham.
Leicester City manager Frank O'Farrell was appointed at the end of the season, ahead of more reputable candidates including Jock Stein and Don Revie.
Blackburn Rovers and Bolton Wanderers, two of the most famous and historic names in English football, were relegated to the Third Division.
The points total was cumulative, which resulted in Oldham winning each prize available, as they picked up only four bookings and no red cards over the 42 game period.
Frank McLintock was credited for his key role in Arsenal's double triumph with the FWA Footballer of the Year award.