Real Madrid played the entire season at the Alfredo Di Stéfano Stadium, while the Santiago Bernabéu was undergoing a structural renovation.

This was the first season since 2013–14 without the Colombian midfielder James Rodriguez, who departed for Everton, and the first since the 2012–13 not to feature Gareth Bale, who was loaned to his previous club Tottenham Hotspur, thus returning back to Los Merengues in the following campaign.

[5] Four days later, Madrid fell 2–3 to Shakhrtar Donetsk in their opening Champions League match, despite second half goals from Modrić and Vinícius after being down 0–3.

[7] Three days later, Benzema and Casemiro scored two late goals to give Real a 2–2 draw in the Champions League at Borussia Mönchengladbach.

[8] On the last day of October, a brace from Benzema and goals from Valverde and Eden Hazard secured a 4–1 home win over Huesca.

[18] On 15 December, a brace from Benzema and a goal from Toni Kroos saw Madrid get away with another home win, this time defeating Athletic Bilbao 3–1.

[24] On 14 January, Madrid lost the semi-final of the 2020–21 Supercopa de España against Athletic Bilbao 1–2, with a second half goal from Benzema not being enough.

[27] A week later, ten-man Madrid lost the home match against Levante 1–2, even though Asensio gave Real an early lead.

[33] On the first day of the new month, the home game against Sociedad ended in a 1–1 draw, with the goal coming from Vinícius in the closing minutes.

[34] In a derby against Atlético at the Wanda Metropolitano on 7 March, Benzema scored a late equalizer with the same result, securing Madrid a point.

[41] Four days later, the return leg against Liverpool ended 0–0, meaning Madrid qualified for the Champions League semi-finals.

[44] The crucial home match against Betis on 24 April 2021 ended in a 0–0 draw, damaging Real's title aspirations.

[48] Another four days later, an Asensio goal and a late deflection from Hazard helped Madrid salvage a point in the home game against Sevilla, keeping them alive in the title race.

[51] On 22 May, Madrid produced a late comeback to defeat Villarreal 2–1 at home in the last match of the season, with Benzema and Modrić scoring the goals.

[100][101] Win Draw Loss Madrid entered the tournament in the round of 32, as they had participated in the 2020–21 Supercopa de España.