The number of knock out matches was increased significantly in the Ranji Trophy, 1970-71 and this edition of the tournament saw the teams playing the Pre-Quarter-Final matches. The number of Quarter-Final matches was also increase to 4 from that of 1 in the previous editions of the tournament. There were a number of 10 teams participated in the knock out matches of the Ranji Trophy, 1970-71 and the teams included the likes of Delhi, Bombay, Bengal, Hyderabad, Bihar, Punjab, Vidarbha, Maharashtra, Rajasthan and Mysore. All the teams competed in the knock out level for clinching the title of the tournament; however, the Bombay team once again became successful to win the title.

The first Pre-Quarter-Final match of the Ranji Trophy, 1970-71 was played between the teams of Delhi and Hyderabad at Delhi from 13-16 February, 1971. The Delhi team played well in the match and got a win of 122 runs to enter into the Quarter-Final stage of the tournament. The teams of Bihar and Punjab played against each other in the second Pre-Quarter-Final match of the Ranji Trophy, 1970-71 and the match was held at Jamshedpur from 18-21 February, 1971. Though the match was a drawn one, the match officials allowed the Bihar team to advance to the Quarter-Final stage of the tournament.

There were a number of 4 Quarter-Final matches played in the Ranji Trophy, 1970-71 and the first of them saw the teams of Bombay and Delhi playing against each other at Bombay from 26-28 February, 1971. The Bombay team thrashed the Delhi team by a huge margin of 10 wickets in the match and advanced to the Semi-Final stage of the tournament, quite comfortably. In the second Quarter-Final match of the Ranji Trophy, 1970-71, the teams of Bengal and Vidarbha clashed with each other at Calcutta from 28 February-01 March, 1971. The match was a drawn one and match officials decided to allow the Bengal team proceed to the Semi-Final stage of the tournament. There was a clash between the teams of Mysore and Bihar in the third Quarter-Final match of the Ranji Trophy, 1970-71 and the teams played the match at Bangalore from 28 February-01 March, 1971. The closely contested match saw the Mysore team winning by a narrow margin of 2 wickets and entering into the Semi-Final stage of the tournament. The last of the Quarter-Final matches in the Ranji Trophy, 1970-71 was played between the teams of Maharashtra and Rajasthan and the teams played the match at Poona from 28 February-01 March, 1971. The match officials allowed the Maharashtra team to enter into the Semi-Finals, though the match remained drawn during the stipulated duration.

After the completion of the Pre-Quarter-Finals and the Quarter-Final matches, the Semi-Final matches of the Ranji Trophy, 1970-71 started and the first Semi-Final match saw the teams of Bengal and Bombay playing against each other. The match was held at Calcutta from 19-22 March, 1971 and the Bombay team got the permission to play in the Final, in spite of the match being a drawn one. The teams of Maharashtra and Mysore clashed with each other in the second Semi-Final match of the Ranji Trophy, 1970-71 and the match took place at Poona from 19-22 March, 1971. The Maharashtra team played well to get a victory of 40 runs in the match for setting up a clash with the Bombay team in the Final. Thus, the teams of Bombay and Maharashtra locked their horns together in the Final of the Ranji Trophy, 1970-71 and the match was held at Bombay from 02-07 April, 1971. Though the Maharashtra team played well in the match, Bombay eventually became successful to clinch a win of 48 runs and won the championship trophy, once again.