The 1973–74 Football League season was Birmingham City Football Club's 71st in the Football League and their 40th in the First Division. After spending most of the season in the relegation positions, they finished in 19th place in the 22-team division, avoiding relegation by just one point. They entered the 1973–74 FA Cup at the third round proper and lost to Queens Park Rangers in the fourth, and were eliminated from the League Cup in the fifth round by Plymouth Argyle. They lost in the second round of the Texaco Cup on aggregate, after the first attempt to play the second leg of their match against Newcastle United had to be abandoned after 100 minutes when it became too dark to play.
Thirty players made at least one appearance in nationally organised first-team competition, and there were twelve different goalscorers. Forward Bob Hatton played in 51 of the 54 first-team matches over the season, and the leading goalscorer was Hatton with 20 goals, of which 14 came in league competition.
In February 1974, by which time he had already scored 18 goals for Birmingham, centre-forward Bob Latchford signed for Everton in part-exchange for Howard Kendall, Archie Styles, and £80,000. The whole package was valued at a British record transfer fee of £350,000.