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| 1st(1st leg) | Újpesti Dózsa SC | - | Celtic FC | 1:2 (0:1) | ||
| 2nd (2nd leg) | Celtic FC | - | Újpesti Dózsa SC | 1:1 (0:1) | ||
| 1st(1st leg): 08/03/1972 16:30 | 2nd (2nd leg): 22/03/1972 20:00 | Winner: Celtic FC | ||||
| 1st(1st leg) | AFC Ajax | - | Arsenal FC | 2:1 (1:1) | ||
| 2nd (2nd leg) | Arsenal FC | - | AFC Ajax | 0:1 (0:1) | ||
| 1st(1st leg): 08/03/1972 19:15 | 2nd (2nd leg): 22/03/1972 18:30 | Winner: AFC Ajax | ||||
| 1st(1st leg) | Feijenoord | - | SL Benfica | 1:0 (0:0) | ||
| 2nd (2nd leg) | SL Benfica | - | Feijenoord | 5:1 (2:0) | ||
| 1st(1st leg): 08/03/1972 19:30 | 2nd (2nd leg): 22/03/1972 21:45 | Winner: SL Benfica | ||||
| 1st(1st leg) | Inter | - | Standard Liège | 1:0 (0:0) | ||
| 2nd (2nd leg) | Standard Liège | - | Inter | 2:1 (0:0) | ||
| 1st(1st leg): 08/03/1972 20:15 | 2nd (2nd leg): 22/03/1972 19:00 | Winner: Inter | ||||
