The 1967–68 season of the European Cup Winners' Cup club football tournament was won by Milan following their final victory against Hamburg, the fourth West German finalist in four years. Milan beat defending champions Bayern Munich en route to the final.

First round

First leg

Second leg

Milan won 6–2 on aggregate. Győri ETO won 9-0 on aggregate. Aberdeen won 14–1 on aggregate. Valencia won 8–2 on aggregate. Steaua București won 4–1 on aggregate. Tottenham Hotspur won 6–3 on aggregate. Cardiff City won 3–1 on aggregate. Vitória Setúbal won 7–2 on aggregate.

Second round

First leg

Second leg

Bayern Munich won 7–3 on aggregate. 3–3 on aggregate; Milan won on away goals. Valencia won 3–1 on aggregate. 4–4 on aggregate; Lyon won on away goals.

Quarter-finals

1 Milan beat Standard Liège 2–0 in a play-off. 2 Hamburg beat Lyon 2–0 in a play-off. 3 Cardiff City beat Torpedo Moscow 1–0 in a play-off.

First leg

Second leg

2–2 on aggregate.

Play-offs

Hamburg won play-off 2–0. Cardiff City won play-off 1–0.

Semi-finals

First leg

Second leg

Milan won 2–0 on aggregate. Hamburg won 4–3 on aggregate.

Final