During the 1997–98 Spanish football season, Valencia CF competed in La Liga and Copa del Rey.

The squad started poorly with three consecutive losses and Jorge Valdano was sacked being appointed Claudio Ranieri[4] as new manager in October.

After a chaotic first half of the campaign, the squad improved its performance in the second part of the campaign thanks to Ranieri's team handling to boost the upcoming midfield youngstars Gaizka Mendieta, Miguel Angulo, Francisco Javier Farinos and Forward Adrian Ilie[5] who arrived to the club in late December and scored 12 goals.

Also, in the Copa del Rey, the squad was defeated in two legs by FC Barcelona being eliminated in eighthfinals.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.