The 1906–07 season was Sport Lisboa e Benfica's third season in existence and the club's first competitive season, still under the name Sport Lisboa.
This season, Benfica finished second to Carcavelos SC in the Campeonato de Lisboa, the only official competition at the time, composed of four teams. Benfica's most memorable match of the season was the 2–1 win against Carcavelos, a team that was filled with English players and that was unbeaten since 1898.
Malheiro, João (November 2009). O Império Vermelho - A história completa do Benfica [The Red Empire - The complete history of Benfica] (in Portuguese). Statistics by Rui Malheiro. Portugal: QuidNovi. p. 10. ISBN 978-989-628-170-0.