The 2008–09 season was Olympiacos's 50th consecutive season in the Super League Greece and their 83rd year in existence. The club are competing in the UEFA Cup after an 11-year participation in the UEFA Champions League, as they were eliminated in the UEFA Champions League third qualifying round by Anorthosis. In the beginning of the summertime, Olympiacos unveiled Spanish Ernesto Valverde as their new coach.