The knockout stage of the 1997–98 UEFA Champions League began on 4 March 1998 and ended with the final at the Amsterdam Arena in Amsterdam on 20 May 1998. The six group winners in the group stage, as well as the two best runners-up, competed in the knockout stage. For the quarter-finals, two group winners were randomly drawn against the two best runners-up from another group while the other four group winners face against each other with the restriction that two best runners-up cannot be drawn against the winners of their own group. The knockout stage was then played as a single-elimination tournament.

Each quarter-final and semi-final was played over two legs, with each team playing one leg at home; the team that scored the most goals over the two legs qualified for the following round. In the event that the two teams scored the same number of goals over the two legs, the team that scored more goals away from home qualified for the next round; if both teams scored the same number of away goals, matches would go to golden goal extra time and then penalties if the teams could not be separated after extra time.

The draw for the quarter-finals and semi-finals was announced on 17 December 1997 and 20 March 1998.^[1][2] UEFA reported that the final would be played at Amsterdam Arena.^[3]