The 2005 Football League Cup final was a football match played between Liverpool and Chelsea on 27 February 2005 at the Millennium Stadium, Cardiff. It was the final match of the 2004–05 Football League Cup, the 45th season of the Football League Cup, a football competition for the 92 teams in the Premier League and Football League. Liverpool were appearing in their tenth final; they had previously won seven and lost two while Chelsea were appearing in the final for the fourth time. They had previously won twice and lost once.

As both teams were in the Premier League, they entered the competition in the third round. Liverpool's matches were generally close affairs, with only two victories secured by two goals or more. A 2–0 win over Middlesbrough in the fourth round was followed by a 4–3 victory in a penalty shootout after their quarter-final match with Tottenham Hotspur finished 1–1. Chelsea's matches were also close affairs, their only victory by more than one goal was against Newcastle United in the fourth round, which they won 2–0.

Watched by a crowd of 78,000 Liverpool scored inside the first minute when John Arne Riise volleyed a Fernando Morientes pass into the Chelsea goal. Neither side was able to score despite a number of chances, until the 79th minute when Liverpool captain Steven Gerrard headed a Paulo Ferreira free-kick into his own net. José Mourinho was ordered to the stands after Chelsea's equaliser for making a gesture to the Liverpool fans. Despite the incident, Chelsea continued their dominance into extra-time and a goal each from Didier Drogba and Mateja Kežman gave them a 3–1 lead. A minute later Antonio Núñez of Liverpool scored a header to reduce the deficit to 3–2, but Chelsea held to win the match and the League Cup for the third time.

As Liverpool were competing in the Premier League, they entered the competition in the third round and were drawn against Millwall, who were in the Championship. Liverpool fielded a team that did not feature many of their regular starters including Steven Gerrard and Xabi Alonso. Despite this, they won the match at Millwall's home ground The New Den, 3–0 courtesy of two goals from striker Milan Baroš and midfielder Salif Diao. Liverpool were drawn against fellow Premier League side Middlesbrough in the fourth round. Again Liverpool manager Rafael Benítez did not field many of his first choice players, however two goals from striker Neil Mellor secured a 2–0 victory at their home ground of Anfield.

Tottenham Hotspur were the opposition in the quarter-final held at their opponent's home ground White Hart Lane. With neither side scoring during 90 minutes, the match went to extra time. Tottenham took the lead in the 108th minute when striker Jermain Defoe scored. Tottenham appeared to be on course for victory, but a handball in their penalty area by Frédéric Kanouté resulted in a Liverpool penalty, which striker Florent Sinama Pongolle scored. With no further goals, the match went to a penalty shoot-out. Liverpool won the subsequent shootout 4–3 to progress to the semi-final.

Championship side Watford were the opposition in the semi-final which were held over two legs. Unlike previous rounds, Benítez picked a near full-strength team for the first leg at Anfield. The only goal of the match was scored in the 56th minute by Liverpool captain Gerrard. The second leg at Watford's home ground, Vicarage Road finished in the same scoreline, with Gerrard again scoring the winning goal. As a result, Liverpool won the match 1–0 and 2–0 on aggregate to progress to the final.

West Ham United were Chelsea's opposition, as they entered the competition in the third round due to being in the Premier League. The match held at Chelsea's home ground Stamford Bridge, saw a Mateja Kežman goal secure a 1–0 victory for Chelsea. Their opponents in the fourth round were fellow Premier League team Newcastle United. The match, held at Newcastle's home ground St James' Park, was goalless for the first 90 minutes and went to extra-time. Goals from Eiður Guðjohnsen and Arjen Robben resulted in a 2–0 victory for Chelsea.

Local rivals Fulham were Chelsea's opposition in the quarter-final, with the match held at Fulham's home ground, Craven Cottage. A goal in the 55th minute from midfielder Damien Duff gave Chelsea a 1–0 lead. However, Fulham equalised in the 74th minute when striker Brian McBride scored. With both teams pushing forward to score the winning goal, substitute Frank Lampard scored in the 88th minute to secure a 2–1 victory for Chelsea.