The knockout stage of the 1995–96 UEFA Champions League began on 6 March 1996 and ended with the final at the Stadio Olimpico in Rome on 22 May 1996.
For the semi-final, the fixtures were also predetermined, with the ties containing the group winners of A and D playing each other, as well as those of groups B and C. The order of matches from the semifinals onward was decided by a draw.
The knockout stage involved the eight teams which qualified as winners and runners-up of all four groups in the group stage.
In the event that the two teams scored the same number of goals over the two legs, the team that scored more goals away from home qualified for the next round; if both teams scored the same number of away goals, matches would go to extra time and then penalties if the teams could not be separated after extra time.
The final was played on 22 May 1996 at the Stadio Olimpico in Rome, Italy.