The 1974 Melia Trophy, also known as the Madrid Open, was a combined men's and women's tennis tournament played on outdoor clay courts at the Real Sociedad Hípica Española Club de Campo in Madrid, Spain.

The men's tournament was classified as Group A category and was part of the 1974 Grand Prix circuit.

Ilie Năstase and Helga Masthoff won the singles titles.

[3][4] Ilie Năstase defeated Björn Borg 6–4, 5–7, 6–2, 4–6, 6–4 Helga Masthoff defeated Tine Zwaan 6–2, 6–4 Patrice Dominguez / Antonio Muñoz defeated Brian Gottfried / Raúl Ramírez 6–1, 6–3 Lesley Charles / Sue Mappin defeated Cora Creytd / Helga Masthoff 6–2, ret.

Virginia Ruzici / Ion Țiriac defeated Mark Farrell / Lesley Charles 7–6, 4–6, 6–3