In the 1970–71 season Panathinaikos played for 12th consecutive time in Greece's top division, the Alpha Ethniki. They also competed in the European Cup, being the finalists, and the Greek Cup
| 1970–71 season | ||||
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| Chairman |  Michael Kitsios | |||
| Manager |  Ferenc Puskás | |||
| Alpha Ethniki | 3rd | |||
| Greek Cup | Quarter-finals | |||
| European Cup | Runners-up | |||
| Intercontinental Cup | Runners-up | |||
| Top goalscorer | Mimis Domazos (20) | |||
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Squad edit
Note: Flags indicate national team as defined under FIFA eligibility rules. Players may hold more than one non-FIFA nationality.
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Team kit edit
         Home
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Away
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Home (2)
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  Away (2)
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Competitions edit
Alpha Ethniki edit
League table edit
| Pos | Team | Pld | W | D | L | GF | GA | GD | Pts | Qualification or relegation |
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| 1 | AEK Athens (C) | 34 | 23 | 8 | 3 | 67 | 18 | +49 | 88 | Qualification for European Cup first round |
| 2 | Panionios | 34 | 21 | 7 | 6 | 61 | 34 | +27 | 83 | Qualification for UEFA Cup first round |
| 3 | Panathinaikos | 34 | 19 | 10 | 5 | 62 | 26 | +36 | 82 | |
| 4 | Iraklis | 34 | 13 | 15 | 6 | 40 | 30 | +10 | 75 | |
| 5 | Egaleo | 34 | 15 | 11 | 8 | 31 | 24 | +7 | 75 |
Source: RSSSF
Rules for classification: 1st points; 2nd head-to-head points; 3rd head-to-head goal difference; 4th decision match.
(C) Champions
Rules for classification: 1st points; 2nd head-to-head points; 3rd head-to-head goal difference; 4th decision match.
(C) Champions
European Cup edit
First round
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
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Jeunesse Esch 
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1–7 |  Panathinaikos
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1–2 | 0–5 |
Second round
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
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| Panathinaikos
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4–2 |  Slovan Bratislava
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3–0 | 1–2 |
Quarter-finals
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
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Everton 
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1–1 (a) | Panathinaikos
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1–1 | 0–0 |
Semi-finals
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
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Red Star Belgrade 
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4–4 (a) | Panathinaikos
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4–1 | 0–3 |
Final edit
Ajax  | 2–0 |  Panathinaikos |
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Van Dijk  5'Haan 87' |
Report MatchCentre |
  Ajax
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Panathinaikos
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Intercontinental Cup edit
Panathinaikos played also for the Intercontinental Cup against Club Nacional de Football due to refusal of Ajax to participate.
First leg
Match details edit
| Panathinaikos | 1–1 |  Nacional |
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| Filakouris 48' |
(Report) | Artime 50' |
 Panathinaikos
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 Club Nacional
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Second leg
Match details edit
| Nacional | 2–1 | Panathinaikos |
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| Artime 34', 74' |
(Report) | Filakouris 89' |
| Club Nacional
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Panathinaikos
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