This was the first UEFA Champions League edition to feature a new format with a 16-team knockout round instead of a second group stage.

[1] The competition was won by Portugal's Porto, who defeated Monaco of France 3–0 at the Arena AufSchalke in Gelsenkirchen, Germany.

This was Portugal's first win since 1987, and Porto's second European trophy in two years, following their UEFA Cup success from the previous season.

The schedule of the competition is as follows (all draws are held at UEFA headquarters in Nyon, Switzerland, unless stated otherwise).

Tiebreakers, if necessary, were applied in the following order:[5] Real Sociedad, Celta Vigo, VfB Stuttgart and Partizan made their debut appearance in the group stage.