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| I | Újpesti Dózsa SC | - | Celtic FC | 1:2 (0:1) | ||
| V | Celtic FC | - | Újpesti Dózsa SC | 1:1 (0:1) | ||
| I: 08.03.1972 17:30 | V: 22.03.1972 21:00 | Campeones: Celtic FC | ||||
| I | AFC Ajax | - | Arsenal | 2:1 (1:1) | ||
| V | Arsenal | - | AFC Ajax | 0:1 (0:1) | ||
| I: 08.03.1972 20:15 | V: 22.03.1972 19:30 | Campeones: AFC Ajax | ||||
| I | Feijenoord | - | Benfica | 1:0 (0:0) | ||
| V | Benfica | - | Feijenoord | 5:1 (2:0) | ||
| I: 08.03.1972 20:30 | V: 22.03.1972 22:45 | Campeones: Benfica | ||||
| I | Inter | - | Standard Liège | 1:0 (0:0) | ||
| V | Standard Liège | - | Inter | 2:1 (0:0) | ||
| I: 08.03.1972 21:15 | V: 22.03.1972 20:00 | Campeones: Inter | ||||
