The 1971–72 European Cup was the 17th season of the European Cup, UEFA's premier club football tournament.

The competition was won by Ajax, who beat Inter Milan in the final at De Kuip in Rotterdam, on 31 May 1972.

2–2 on aggregate; Dinamo București won on away goals.

CSKA September Flag won 4–0 on aggregate.

This game was annulled as Inter player Roberto Boninsegna was hit by a Coca-Cola can in the 29th minute.

2–2 on aggregate; Inter Milan won on away goals.

0–0 on aggregate; Inter Milan won 5–4 on penalties.