The season began with an unbeaten run in the club's opening 15 league matches, and by the middle of March they were strong title contenders with only two defeats in thirty-two.

The dip in form, losing seven of the last ten league games, was due in no small part to fixture congestion, as the club was progressing in cup competitions.

This was eclipsed by reaching – and then winning – the final of the UEFA Cup, where a 5–4 aggregate victory over Dutch side AZ Alkmaar clinched the club's first (and, to date, only) European trophy.

That season included an unbeaten run of 23 matches stretching from the beginning of December to the final Saturday of the League, when they lost at Manchester City.

[3] Ipswich started their league campaign with a 1–0 victory away at newly promoted Leicester City, with John Wark scoring the winning goal in the 88th minute.

[4] Home wins against Brighton and Everton sandwiched a 2–2 draw at Stoke City, and left Ipswich unbeaten in the league and top of the table on goal difference at the end of August.

[6] The club went through September undefeated, with victories against Aston Villa, Crystal Palace, Coventry City and Wolves, maintaining their position at the top of the division at the end of the month, four points ahead of Liverpool.

A shock 1–0 defeat against bottom club Brighton saw the end of Ipswich's unbeaten run of fourteen league games since the start of the season.

Ipswich were without first-team regulars Paul Cooper, Thijssen, Alan Brazil and Kevin Beattie through injury, and Terry Butcher was suspended,[9] having been sent off in the Southampton match.

[22] Having lost just two league games between August and February, Ipswich's form had started to dip as a result of fixture congestion with them still playing in three competitions.

[23] Ipswich's season worsened in April, losing to West Bromwich Albion, Arsenal and Norwich, and securing just four points with wins against Manchester City and Aston Villa.

They led 1–0 at half-time against Middlesbrough at Ayresome Park, but two goals from Yugoslavian international striker Boško Janković condemned Ipswich to their sixth defeat in nine games.

The match ended in a goalless draw, forcing a replay and Robson declared Shrewsbury to have been unlucky: "if we play like that again we won't win the cup or the league title".

Described as "one of the celebrated strikes in the club's history", Paul Power's extra time free kick settled the match in City's favour.

A 3–0 home win saw Wark on target twice more, who was substituted off with a tendon injury, to be replaced by Kevin Beattie who scored a third for Ipswich with a free kick,[41] described in The Times as a "thunderbolt".

[44][45] Three weeks later, Ipswich faced Widzew Łódź from Poland, who had defeated Manchester United and Juventus in previous rounds, at Portman Road.

[46] Wark once again found the net, scoring a hat-trick with goals from Alan Brazil and Paul Mariner completing a comprehensive 5–0 victory,[47] the only negative being a trip to hospital for Mick Mills for 15 stitches in a cut to his shin.

[48] On a frozen pitch which many observers considered to be dangerous,[49] Widzew Łódź won the away leg 1–0, with Marek Pięta [pl] scoring for the hosts but went out 5–1 on aggregate.

[58] A third goal for Ipswich, this time from Paul Mariner, saw the English team win the game and take a 3–0 lead into the second leg at the Olympic Stadium in Amsterdam.

[46] Playing with two central defenders, the rest of the AZ team attacked,[60] and Johnny Metgod and Pier Tol scored before half-time, either side of a Wark goal, to take the aggregate to 5–3.

[46] Jos Jonker scored AZ's fourth of the day with 16 minutes to go, but Ipswich held on to win 5–4 on aggregate,[46] with their goalkeeper Cooper named as man of the match.