The 1927–28 season was Real Madrid Club de Fútbol's 26th season in existence. The club played some friendly matches including their first ever tour of the Americas. They also played in the Campeonato Regional Centro (Central Regional Championship), the Copa del Rey and the Copa Federación Centro (Central Federation Cup).

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Real Madrid

1927–28 season
President	Luis de Urquijo
Manager	José Berraondo
Stadium	Estadio Chamartín
Campeonato Regional Centro[lower-alpha 1]	Runners-up
Copa Federación Centro	Winners
Copa del Rey	Quarter-finals
Top goalscorer	League: Gual (15) All: Gual (22) Luis Uribe (22)
Biggest win	Real Madrid 9–0 CD Nacional
Biggest defeat	Real Sociedad 5–1 Real Madrid Athletic Bilbao 4–0 Real Madrid Racing de Santander 4–0 Real Madrid
Home colours Away colours
← 1926–27 1928–29 →

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Real Madrid also played in the Torneo de Campeones [es], a competition involving the six teams that had previously won the Copa del Rey. The competition was played with a make shift schedule and the teams had been scheduled to play each other in a double round-robin format, however all matches could not be played, and some teams including Real Madrid only played 9 games. The Torneo de Campeones served as a rehearsal for the establishment of La Liga, the first national football league in Spain, the following season.