The 2022–23 LEN Challenger Cup was the inaugural edition of a water polo competition organised by the Ligue Européenne de Natation (LEN).

GS Apollon Smyrnis of Greece became the first champions, defeating CN Terrassa of Spain in the final.

This tournament was designed to help developing countries and club grow and play more European club games.

In the Knockout Stage, the ties were played in a home and away format.

The draw for the Knockout Stage was made on the 20 November 2022.