[A] After failing to retain the title in the past season, manager Fernando Cabrita was replaced by Milorad Pavić.

A draw in early February, with Académica de Coimbra stopped them, but the team reacted with five consecutive wins, opening a five-point lead by mid March.

[2] Miljanić initially agreed with the club, but in March 1973, he back-tracked on his word, so he could sign with Real Madrid.

[4] In the transfer market, Benfica made almost no new signings but also only had three departures, Rui Rodrigues and Zeca, being the more noteworthy.

[7] The first training sessions were in Serra da Estrela,[8] before the club embarked on a tour in Mexico and United States in early August.

[10] Benfica started their league campaign with victories against Belenenses and Farense, reaching top of the table, ex aequo with Porto.

[13] They reacted positively to the loss and won their next four Primeira Divisão matches, retaking first place albeit shared with Porto.

[19][20] Two weeks later, Benfica defeated Olhanense on the road and Porto lost in Alvalade, with the teams exchanging places.

[24] The team continued on their winning run, and on match-day 25, they added two more points in their difference over Sporting, which had lost in Bessa.

[25] President Borges Coutinho attributed the defeat to a friendly of the national team, 9 days earlier in Goiânia; which negatively affected the Benfica players used.

[26] Before the season ended, Pavić qualified Benfica for the Taça de Portugal final, where they would play Boavista.

Note 2: Players with squad numbers marked ‡ joined the club during the 1974-75 season via transfer, with more details in the following section.