Inter Milan Inter Milan qualified for the competition as winners of the
1962–63 Serie A.
Everton of England were Inter Milan's opponents in the preliminary round. After a goalless draw away from home in the first leg, Inter Milan won the second leg 1–0 at home to advance. In the first round, Inter Milan faced
AS Monaco who represented France in the competition. Inter Milan won the first leg 1–0 at home and the second leg 3–1 away to advance 4–1 on aggregate. In the preliminary round, Real Madrid defeated
Rangers of Scotland 1–0 away in the first leg and 6–0 at home in the second leg to advance 7–0 on aggregate.
Dinamo București of Romania were Real Madrid's opponents in the first round. After winning the first leg 3–1 away from home, Real Madrid won the second leg at home 5–3 to advance 8–4 on aggregate. Real Madrid then faced defending champions
AC Milan of Italy in the quarter-finals. After winning the first leg 4–1 at home, Real Madrid lost the second leg 2–0 away from home to advance 4–3 on aggregate. In the semi-finals, Real Madird defeated
Zürich of Switzerland 2–1 in the first leg away from home and 6–0 in the second leg at home to advance to the final 8–1 on aggregate. ==Match==