Villarreal reached the semi-finals of the UEFA Champions League, being knocked out by eventual runners-up Arsenal 1–0 on aggregate, with Arsenal keeper Jens Lehmann saving a last-minute Juan Román Riquelme penalty, in the second leg, that would have taken the tie to extra time in front of Villarreal's home support.

Despite Villarreal's excellent form in Europe, the continental success was not translated to the domestic stage.

Villarreal finished seventh, consigning them to Intertoto Cup football.

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

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