2003–04 Swiss Challenge League

The 2003–04 Swiss Challenge League was the first season of the Swiss Challenge League, and the 72nd season of the second tier of the Swiss football league pyramid. It began on 18 July 2003 and ended on 22 May 2004. The champions of this season, FC Schaffhausen, earned promotion to the 2004–05 Super League. SR Delémont finished last and were relegated to the Swiss 1. Liga.

Promotion/relegation playoff
Neuchâtel Xamax won 3-2 on aggregate, so it maintains its place in the Super League FC Vaduz remains in the Challenge League

Promoted clubs

 * To Super League - FC Schaffhausen
 * FC Wil replaces SR Delémont to increase the league's size to 18 clubs
 * From 1. Liga - SC YF Juventus and FC Baulmes

Relegated clubs

 * To 1. Liga - SR Delémont