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| H | Spartak Moskva | - | Real Madrid | 0:0 (0:0) | ||
| R | Real Madrid | - | Spartak Moskva | 2:0 (0:0) | ||
| H: 04.03.1981 16:00 | R: 19.03.1981 18:00 | Sieger: Real Madrid | ||||
| H | Liverpool FC | - | CSKA Sofia | 5:1 (2:0) | ||
| R | CSKA Sofia | - | Liverpool FC | 0:1 (0:1) | ||
| H: 04.03.1981 19:30 | R: 18.03.1981 18:00 | Sieger: Liverpool FC | ||||
| H | Bayern München | - | TJ Baník Ostrava OKD | 2:0 (0:0) | ||
| R | TJ Baník Ostrava OKD | - | Bayern München | 2:4 (1:4) | ||
| H: 04.03.1981 20:00 | R: 18.03.1981 16:30 | Sieger: Bayern München | ||||
| H | Inter | - | Crvena Zvezda | 1:1 (1:0) | ||
| R | Crvena Zvezda | - | Inter | 0:1 (0:1) | ||
| H: 04.03.1981 20:45 | R: 18.03.1981 17:30 | Sieger: Inter | ||||
