Atlético competed in La Liga, Copa del Rey and UEFA Champions League.

[1] Supplier: Nike / First Sponsor: Plus500[2] On 16 June, Atlético reached an agreement with Benfica for the €25 million transfer of winger Nicolás Gaitán.

[5] On 6 July, Atlético agreed to send defensive midfielder Matías Kranevitter to Sevilla on loan for the 2016–17 season for a €2 million fee.

[6] The following day, the club confirmed an agreement with Newcastle United for the transfer of right back Jesús Gámez on a free deal.

[10][11] On 15 July, the schedule for the 2016–17 La Liga season was released; Atlético will play his first league match at home on 21 August against newly promoted Alavés.

[13] On 26 July, Atlético took 24 players on its tour of Australian to play two fixtures, one being in the 2016 International Champions Cup.

[21] On 4 August, Atlético announced it had extended the contract of Théo Hernandez, and that he would be loaned out to Alavés for the 2016–17 season.

[22] On 6 August, the club played its fourth match of the pre-season under "LaLiga World", defeating Crotone 2–0 via Nicolas Gaitán and Diogo Jota goals.

[24] On 11 August, the club has reached an €18 million agreement with Swansea City for the transfer of striker Borja Bastón.

[27] Shortly before the match on 13 August, Atlético and Villarreal reached an agreement for the loan of Rafael Santos Borré for the 2016–17 season.

[28] In the last friendly match, Atlético won and finished third in the Carranza after beating Nigeria All Stars; goals were scored by Gaitán and Godín.

[30] On 18 August, Atlético has reached an agreement with Vitória de Guimarães for the loan of Bernard Mensah for the remainder of the season.

[37] On 27 August, the club has reached an agreement with Porto for the loan of Diogo Jota until the end of the season.

[40] On 13 September, Atlético played its first match in the Champions League group stage, winning 1–0 over PSV, with goal by Saúl.

[44] In its second match in the Champions League, Atlético won 1–0 at home stadium over Bayern Munich; the goal scored Carrasco.

[54] In the fifth game of the Champions League group stage Atletico came to victory over PSV Eindhoven 2–0 with goals by Gameiro and Griezmann.

[57] Two goals from Carrasco and one each from Vrsaljko, Correa, Rober and Saúl secured a 6–0 victory in the first leg of the Copa del Rey, round of 32, over Guijuelo.

[63] After the first-leg win away at Guijuelo in the Copa del Rey, the second-leg was decided in the first half with four goals scored by Nicolás Gaitán, Ángel Correa, Juanfran and Fernando Torres to send the club to the round of 16, 10–1 on aggregate.

[64] On 30 December, Atlético play the last game of the year with a friendly against Al-Ittihad and won by 3–2, with goals from Juanfran, Torres and Giménez.

[65] The new year for the team began with a 2–0 victory against Las Palmas in the first leg of the cup last 16; Koke and Griezmann scored.

[78] The great goals from Torres and Carrasco tied two times over Celta, but Griezmann scored on 88 minutes to give the victory to the home team.

[80] Saúl, Griezmann, Gameiro from a penalty kick, and Torres scored in the win in Leverkusen that end with a results 2–4.

[93] Goal by Saúl secured the pass of Atlético to the Champions League semi-finals after drawing over Leicester City 1–1 (2–1 on aggregate).