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| 1st(1st leg) | Iraklis Saloniki | - | Novi Sad XI | 2:1 (1:1) | ||
| 2nd (2nd leg) | Novi Sad XI | - | Iraklis Saloniki | 9:1 (3:0) | ||
| 1st(1st leg): 26/10/1961 | 2nd (2nd leg): 15/11/1961 | Winner: Novi Sad XI | ||||
| 1st(1st leg) | Crvena Zvezda | - | Hibernian FC | 4:0 (3:0) | ||
| 2nd (2nd leg) | Hibernian FC | - | Crvena Zvezda | 0:1 (0:0) | ||
| 1st(1st leg): 01/11/1961 | 2nd (2nd leg): 15/11/1961 | Winner: Crvena Zvezda | ||||
| 1st(1st leg) | Heart of Midlothian | - | Inter | 0:1 (0:1) | ||
| 2nd (2nd leg) | Inter | - | Heart of Midlothian | 4:0 (2:0) | ||
| 1st(1st leg): 06/11/1961 | 2nd (2nd leg): 22/11/1961 | Winner: Inter | ||||
| 1st(1st leg) | MTK | - | Leipziger Auswahl | 3:0 (1:0) | ||
| 2nd (2nd leg) | Leipziger Auswahl | - | MTK | 3:0 (1:0) | ||
| 1st(1st leg): 08/11/1961 | 2nd (2nd leg): 15/11/1961 | |||||
| 1st(1st leg) | Espanyol Barcelona | - | Birmingham City | 5:2 (3:1) | ||
| 2nd (2nd leg) | Birmingham City | - | Espanyol Barcelona | 1:0 (0:0) | ||
| 1st(1st leg): 15/11/1961 | 2nd (2nd leg): 07/12/1961 | Winner: Espanyol Barcelona | ||||
| 1st(1st leg) | Sheffield Wednesday | - | AS Roma | 4:0 (3:0) | ||
| 2nd (2nd leg) | AS Roma | - | Sheffield Wednesday | 1:0 (0:0) | ||
| 1st(1st leg): 29/11/1961 | 2nd (2nd leg): 13/12/1961 | Winner: Sheffield Wednesday | ||||
| 1st(1st leg) | FC Barcelona | - | Dinamo Zagreb | 5:1 (4:0) | ||
| 2nd (2nd leg) | Dinamo Zagreb | - | FC Barcelona | 2:2 (1:1) | ||
| 1st(1st leg): 13/12/1961 | 2nd (2nd leg): 20/12/1961 | Winner: FC Barcelona | ||||
| 1st(1st leg) | Valencia CF | - | Lausanne Sports | 4:3 (2:0) | ||
| 2nd (2nd leg) | Lausanne Sports | - | Valencia CF | dnp | ||
| 1st(1st leg): 23/12/1961 | 2nd (2nd leg): 30/12/1961 | Winner: Valencia CF | ||||
| decisive matches | ||||||
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| MTK | - | Leipziger Auswahl | 2:0 (1:0) | |||
