The 1980–81 FIBA Korać Cup was the tenth edition of FIBA's Korać Cup basketball competition.

The Spanish Joventut Freixenet defeated the Italian Carrera Venezia in the final on March 19, 1981 in Barcelona, Spain.

This was the first edition of the competition to feature a champion team outside of Italy or Yugoslavia.

March 19, Palau Blaugrana, Barcelona