The fourth Inter-Cities Fairs Cup was played over the 1961–62 season. There were five representative teams for some major European cities, three of which lost out in the first round. The final was the first European final to be contested between two clubs from the same country, namely Spain. Valencia beat Barcelona 7–3 over two legs, and also reached the next two finals in the competition.
Internazionale goalkeeper Lorenzo Buffon complained of an injury at halftime and was replaced by Ottavio Bugatti, substitutions were not officially allowed at the time.Valencia won 5–3 on aggregate.