The 2012–13 season was Sport Lisboa e Benfica's 109th season in existence and the club's 79th consecutive season in the top flight of Portuguese football. It involved Benfica competing in the Primeira Liga, Taça de Portugal, Taça da Liga and the group stage of the UEFA Champions League. Benfica qualified for the Champions League by coming second in the previous Primeira Liga.

In May, Benfica could have enjoyed a treble if they could win the UEFA Europa League, maintain their lead in the Primeira Liga and win the Taça de Portugal. In the league, they lost against Porto after conceding a 90th-minute goal and despite a win in their last match, they could not prevent their rivals from winning the title. Afterwards, they lost the UEFA Europa League Final against European champions Chelsea (2–1) when Branislav Ivanović headed in an injury-time winner. In the Taça de Portugal, Benfica reached the final for the first time since 2004–05 Taça de Portugal but lost to Vitória de Guimarães, conceding two goals in two minutes. The Taça da Liga ended at the semi-finals, preventing Benfica for winning their fifth league cup in a row. In the UEFA Champions League, Benfica finished with ten points, behind Barcelona and Celtic in the group, and was relegated to the UEFA Europa League, where they reached the club's ninth European final and first since 1990.

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