The 2016–17 season is Atlético Madrid's 86th season in existence and the club's 80th season in La Liga, the top league of Spanish football. Atlético compete in La Liga, Copa del Rey and UEFA Champions League.

On 16 June, Atlético reached an agreement with Benfica for the €25 million transfer of winger Nicolás Gaitán.

On 4 July, Atlético reached an agreement with striker Fernando Torres on a one-year contract after his contract with Milan expired following the end of his 2015–16 loan stint with Atlético. On 5 July, the club announced it had signed right back Šime Vrsaljko to a five-year contract after the club reached an agreement for his transfer from Sassuolo for €16 million. On 6 July, Atlético agreed to send defensive midfielder Matías Kranevitter to Sevilla on loan for the 2016–17 season for a €2 million fee. The following day, the club confirmed an agreement with Newcastle United for the transfer of right back Jesús Gámez on a free deal. On 9 July, the club confirmed a €3.5 million agreement with Espanyol for the transfer of striker Léo Baptistão; Baptistão had spent the 2015–16 on loan at Villarreal. On 12 July, an agreement was reached with Girona over the transfer of Bono; Bono had spent the 2015–16 on loan at Zaragoza. On 14 July, Atlético presented its home and away kit for the 2016–17 season.

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