Atlético Madrid competed for their tenth La Liga title and participated in the UEFA Europa League as holders, entering in the Group stage due to their seventh-place finish in the 2010–11 La Liga.

They also entered the Copa del Rey in the quarter-finals, where they were eliminated by eventual winners Real Madrid.

This season was the first since 2003–04 without Pablo Ibáñez who departed for English club West Bromwich Albion.

Supplier: Nike / Main Sponsor: Kia Motors / Back Sponsor: Kyocera / Shorts Sponsor: Paf In (summer): Filipe Luís: €12m from Deportivo La Coruña Diego Godín: €8m from Villarreal Fran Mérida: Free from Arsenal Diego Costa: From Valladolid Mario Suárez: From RCD Mallorca In (winter): Juanfran: €4m from Osasuna Elías: From Corinthians Out (summer): José Manuel Jurado: €13m to Schalke Pablo Ibanez: Free to West Brom Mariano Pernía: To Nacional Out (winter): Simão: €0.9m to Beşiktaş Ignacio Camacho: To Malaga Juanito: Free to Valladolid Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Players may hold more than one non-FIFA nationality.