The 1970 Pepsi-Cola Masters was a tennis tournament played on indoor carpet courts at the Tokyo Metropolitan Gymnasium in Tokyo in Japan. It was the first edition of the Masters Grand Prix and was held from December 9 through December 15, 1970. The event included a singles and doubles draw, both of which were held in a round robin format. Stan Smith won the first singles title and then partnered Arthur Ashe to the doubles title as well.

The best six players from the 1970 Grand Prix circuit ranking qualified for the singles event. Cliff Richey, the winner of the Grand Prix ranking, could not participate due to illness. John Newcombe was the first replacement as the number seven ranked but was unable to play which meant that Jan Kodeš, ranked eight, completed the field. Stan Smith won the singles title in the round robin format.

Stan Smith won a round robin competition also featuring Arthur Ashe, Željko Franulović, Jan Kodeš, Rod Laver and Ken Rosewall.

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