The 2003–04 Elite Ice Hockey League season was the inaugural season of the Elite League. The season ran from 12 September 2003 until 4 April 2004.

During the 2002–03 season, the financial collapse of the Manchester Storm and the Scottish Eagles, the resignation of the Bracknell Bees and the uncertainty surrounding the London Knights and their London Arena home left the Ice Hockey Superleague with little option but to fold.

The three remaining Superleague clubs, the Belfast Giants, Nottingham Panthers and Sheffield Steelers were joined by three British National League clubs, the Basingstoke Bison, Cardiff Devils and Coventry Blaze and two new clubs, the London Racers and Manchester Phoenix in establishing the Elite Ice Hockey League. The clubs hoped to provide a more financially sustainable league than its predecessor with a greater number of British trained players taking part.

The league was met with considerable opposition from the governing body, Ice Hockey UK who initially refused to affiliate itself with the new league, instead desiring that the remaining Superleague clubs integrate themselves into the British National League. This led to a bitter summer of uncertainty which only the intervention of the International Ice Hockey Federation ended. The IIHF ruled that the Elite League be granted a single season's affiliation with IHUK while discussions between IHUK, the EIHL and the BNL took place on the future of the sport in the United Kingdom.

The season began on 12 September 2003 with a game between the newly formed London Racers and the previous season's league champions, Sheffield Steelers. London began the season at Alexandra Palace but within a few weeks had relocated to the Lee Valley Ice Centre. The Racers went much of the season without winning, before finally claiming a 3–0 victory over Cardiff as the season drew to its close.

During the early part of the season, the results from league games also counted towards a separate Challenge Cup table. After each team had played each other once at home and once away, the top four teams in the table qualified for the semi-finals.

Each team played four home games and four away games against each of their opponents. Sheffield and Nottingham fought it out for the inaugural Elite League title before the Steelers pulled away to become comfortable champions, thanks to twenty consecutive wins, including 7–3, 5–0, 3–0 and 7–4 victories over the Panthers.

Nottingham finished runner-up while Coventry were the most successful former BNL side, finishing third. Belfast began the season strongly before a poor run of results in the second half of the season saw them slip to fourth place. Struggling London were always destined to finish last, doing so by thirty-eight points, while Basingstoke also missed out on a place in the playoffs.

The top six teams qualified for the playoffs. Group A consisted of Sheffield, Belfast and Manchester while Group B consisted of Nottingham, Coventry and Cardiff. The Phoenix chose to stage one of its home games, against the Steelers at the 1,500 capacity IceSheffield rather than play the substantial costs involved in hiring the MEN Arena.

• Coach of the Year Trophy – Mike Blaisdell, Sheffield Steelers
• Player of the Year Trophy – Jason Ruff, Belfast Giants
• Alan Weeks Trophy – Leigh Jamieson, Belfast Giants
• Best British Forward – Ashley Tait, Coventry Blaze
• Vic Batchelder Memorial Award – Leigh Jamieson, Belfast Giants

The scoring leaders are taken from all league games.

• Most points: 88 Mark Dutiaume, Sheffield Steelers
• Most goals: 39 John Craighead, Nottingham Panthers
• Most assists: 54 Mark Dutiaume, Sheffield Steelers
• Most PIMs: 352 Paxton Schulte, Belfast Giants

• Ice Hockey Journalists UK
• The Internet Hockey Database
• Malcolm Preen's Ice Hockey Results and Tables