The 1962–63 season was Dinamo București's 14th season in Divizia A. Dinamo kept the title won in the last season. In the European Cup, Dinamo entered the preliminary round, and could not pass by Galatasaray Istanbul.
Because the team was only seventh at the half of the championship, manager Angelo Niculescu was replaced by a tandem consisting of Dumitru Nicolae "Nicuşor" and Traian Ionescu.
Dinamo's only transfers took place in the winter break. Vasile Gergely of Viitorul București and Nicolae Selymes from Steagul Roşu reinforced a group from which Vasile Anghel had gone to Petrolul Ploieşti and Haralambie Eftimie to Dinamo Bacau.