Just like the UEFA Cup final of 1973, Borussia Monchengladbach were the opponents once again, but this time the result was never in doubt.
Monchengladbach cancelled out Terry McDermott's opening strike, however second-half goals from Tommy Smith and Phil Neal meant the European Cup was heading for Anfield as Bob Paisley's Reds ran out 3-1 winners.
Kenny Dalglish scored the only goal of the game with a brilliant chip to cap an excellent debut season at Anfield.
The Scottish international had been signed by Bob Paisley as a replacement for Kevin Keegan. He went on to make over 500 appearances for Liverpool and later became the manager of the team. He is regarded by many to be the finest player to have ever pulled on the Red jersey.
Paisley won an astonishing three European Cups, six league titles, three League Cups, one UEFA Cup, one European Super Cup and five Charity Shields during his time as Reds boss making him the most successful manager in the history of the club.
He became part of the Liverpool board after his retirement but sadly passed away in 1996.
After lifting the League Championship and League Cup, the Reds won one of the most exciting European Cup finals of all time by beating AS Roma in their home stadium on penalties.
Alan Kennedy was the hero once again after netting the winning penalty, but the antics of Bruce Grobbelaar will always be remembered as the Liverpool goalie wobbled his legs in an attempt to put off the Roma penalty takers!