The 1974 season of the Torneo Descentralizado, the top category of Peruvian football, was played by 22 teams. The top six qualified to the final group stage. The relegation system was as follows: The last-placed team was relegated, the worst Lima-based, Arequipa-based and Lima Province-based teams were relegated. The national champions were Universitario.
Teams play each other once, either home or away. All matches were played in Lima.
