The 1981–82 FIBA European Cup Winners' Cup was the sixteenth edition of FIBA's 2nd-tier level European-wide professional club basketball competition, contested between national domestic cup champions, running from 6 October 1981, to 16 March 1982.

It was contested by 23 teams, three more than in the previous edition.

[1] Cibona defeated Real Madrid, in the final held in Brussels, and won the FIBA European Cup Winners' Cup for the first time in its history.

*AEL withdrew before the first leg and Hapoel Ramat Gan received a forfeit (2-0) in both games.

March 16, Salle Henri Simonet, Brussels