The 2003–04 season was Football Club Internazionale Milano's 95th in existence and 88th consecutive season in the top flight of Italian football.

The 2003–04 season started with a lot of issues: despite expensive, Inter got poor results in the domestic league (two wins, three draws and a loss in derby) and Héctor Cúper was sacked. In order to replace him, Alberto Zaccheroni was appointed coach: eventually, Inter came to a bare fourth place. Inter's campaign in the Champions League, however, resulted in a failure: they didn't manage to pass the group stage, after a historical win over Arsenal (0-3 in Highbury).

In January 2004, Massimo Moratti decided to leave his position of chairman: former footballer Giacinto Facchetti substituted him, retaining the place until his death on 4 September 2006.

Note: Flags indicate national team as defined under FIFA eligibility rules. Players may hold more than one non-FIFA nationality.

Source: Almanacco Illustrato del Calcio - La Storia 1898-2004, Panini Edizioni, Modena, September 2005
Rules for classification: 1) points; 2) goal difference; 3) number of goals scored
¹Udinese gained entry to the 2004–05 UEFA Cup as Coppa Italia finalists Lazio and Juventus qualified for the 2004–05 UEFA Cup and the 2004–05 UEFA Champions League through league position, respectively.
(C) = Champion; (R) = Relegated; (P) = Promoted; (E) = Eliminated; (O) = Play-off winner; (A) = Advances to a further round.
Only applicable when the season is not finished:
(Q) = Qualified to the phase of tournament indicated; (TQ) = Qualified to tournament, but not yet to the particular phase indicated; (RQ) = Qualified to the relegation tournament indicated; (DQ) = Disqualified from tournament.

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