The 2003–04 season was the 118th season in the history of Luton Town Football Club, and club's 83rd consecutive year in the Football League. Luton finished in tenth place, a surprising success considering the financial issues that afflicted the club. Despite being placed in administrative receivership for the majority of the season following a turbulent change of ownership and having a rigorous transfer embargo imposed as a result, signing players only with the Football League's special dispensation, the club accrued more points than in the previous campaign.