The 1973 Torneo Descentralizado was the 57th season of the Peruvian Primera División and the ninth season of the Torneo Descentralizado.

Sportivo Huracán, Atlético Torino, José Gálvez, and Deportivo SIMA were relegated.

Eighteen teams competed against each other at home and away for a total of 34 rounds.

At the end of the 34th round, four teams were relegated and the top six teams in the league table played an additional 5 rounds against each other at a neutral venue which was the Estadio Nacional.

Once these 5 rounds concluded, the champions and runners-up qualified to the 1974 Copa Libertadores.