2022–23 LEN Challenger Cup

The 2022–23 LEN Challenger Cup was the inaugural edition of a water polo competition organised by the Ligue Européenne de Natation (LEN). It acts as the third tier, below the LEN Champions League and the LEN Euro Cup. GS Apollon Smyrnis of Greece became the first champions, defeating CN Terrassa of Spain in the final.

Creation
In June 2022, LEN announced the introduction of the LEN Challenger Cup. This tournament was designed to help developing countries and club grow and play more European club games.

Format
Fifteen teams, who had been eliminated from the Champions League and  Euro Cup, were divided into three groups of four and one group of three. The groups were held in one country. At the end of the group stage, the top two teams advanced to the Knockout Stage. In the Knockout Stage, the ties were played in a home and away format.

Composition of teams
(CL: Eliminated in Champions League; EC: Eliminated in Euro Cup).

Draw
The draw took place on the 26th of October.

Group A

 * 11–13 November 2022, Novaky, Slovakia.

Group B

 * 12–13 November 2022, Terrassa, Spain.

Group C

 * 11–13 November 2022, Sarajevo, Bosnia and Herzegovina.

Group D

 * 11–13 November 2022, Kranj, Slovenia.

Knockout Stage
The draw for the Knockout Stage was made on the 20 November 2022.

Quarter-Finals
Tenerife Echeyde won 35–16 on aggregate

GS Apollon Smyrnis won 25–13 on aggregate

CN Terrassa won 31–19 on aggregate

Enka Istanbul won 29–24 on aggregate

Semi-Finals
GS Apollon Smyrnis won 28–19 on aggregate

CN Terrassa won 25–20 on aggregate

Final
GS Apollon Smyrnis won 30–25 on aggregate