The 1981–82 Football League Cup (known as the Milk Cup for sponsorship reasons) was the 22nd season of the Football League Cup, a knockout competition for England's top 92 football clubs. The competition started on 31 August 1981 and ended with the final on 13 March 1982.
Holders Liverpool defeated Ipswich Town – who were also competing with them for the league title – over the two legs to reach the final. Fellow title contenders Tottenham Hotspur won the other semi-final against relegation threatened West Bromwich Albion.