The Federation Cup 1995–96 was the second and last edition of the IIHF Federation Cup.
The season started on October 6, 1995, and finished on December 29, 1995.
The tournament was won by AS Mastini Varese, who beat Metallurg Magnitogorsk in the final.
Alba Volán Székesfehérvár, HK Solvita Kaunas, KHK Crvena zvezda, SC Miercurea Ciuc SC Miercurea Ciuc *: Scheduled group did not take place, SC Miercurea Ciuc qualification criteria were unclear.
(Jesenice, Slovenia) (Riga, Latvia) (Oświęcim, Poland) (Varese, Italy) HK Dukla Trenčín : bye (Trenčín, Slovakia)