The club finished the season in 3rd place, 21 points behind runaway league winners Crawley Town and 6 points behind second placed AFC Wimbledon. This meant Luton would contest promotion to The Football League through the play-offs for the second consecutive year. A 5–1 aggregate win over Wrexham in the play-off semi-final set up a final at the City of Manchester Stadium against AFC Wimbledon. The two clubs drew 0–0 after extra time to force a penalty shootout, which Luton lost 4–3.

Luton also missed out on the chance of a Wembley final and potential silverware, losing to Mansfield Town in the FA Trophy semi-finals.

Manager Richard Money, who had experienced a tenuous relationship with Luton fans, left the club by mutual consent on 28 March 2011 following a 2–1 loss to relegation-threatened Southport. He was replaced by assistant manager Gary Brabin.

This article covers the period from 1 July 2010 to 30 June 2011.

A 30-point deduction imposed upon Luton Town for financial irregularities effectively crippled their chances of escaping relegation from The Football League in the 2008–09 season. As a result, the club played the next season in a division outside The Football League for the first time in 89 years. Their campaign in the Conference Premier ended in dashed hopes – Luton were favourites for promotion at the start of the year and, although the club rarely ventured any lower than the play-off positions for the entire duration of the season, it required a change in management for the club to begin actively challenging for the title. Richard Money replaced Mick Harford in October 2009, eventually leading the club on a winning run of games throughout the final third of the season that almost saw them topple ultimate victors Stevenage. In the end, the club had to settle for second place in the league, and faced fifth-placed side York City in the play-off semi-final. Luton lost both legs of the semi-final 1–0, consigning them to another year in non-League football.

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