The second Iberian Cup happened forty eight years after the first edition, and was played throughout two matches.

This time it was also between the Portuguese and Spanish league champions Benfica and Athletic Bilbao.

It was the first edition that was officially recognized by both federations, and the FPF even provided the trophy for the competition.

In 1991, it was disputed between the Portuguese champions Benfica and the Copa del Rey winner Atlético de Madrid, and eventually won by the Spanish side.

Finally in 2005, the champions from both national cups faced each other, Vitória de Setúbal and Real Betis.