The 1974 UEFA European Under-23 Championship, which spanned two years (1972–74) had 21 entrants.

Hungary U-23 won the competition.

The group winners played off against each other on a two-legged home-and-away basis until the winner was decided.

There was no finals tournament or 3rd-place playoff.

The allocation of teams into qualifying groups was based on that of 1974 FIFA World Cup qualification with several changes, reflecting the absence of some nations: Czechoslovakia qualify as group winners Italy qualify as group winners Netherlands qualify as group winners East Germany qualify as group winners Poland qualify as group winners Bulgaria qualify as group winners Hungary qualify as group winners Soviet Union qualify as group winners Quarter-finals Hungary win 4-3 on aggregate Poland win 2-1 on aggregate Soviet Union win 7-2 on aggregate East Germany win 3-1 on aggregate Semi-finals 2-2:  Hungary win 4-3 on penalties 2-2:  East Germany win on away goals rule Final Hungary win 6-3 on aggregate Hungary finish as Champions