6 September 2008 : Portuguese Super League Transfers Updated| Player | Position | From | To | Fee €m | |
| Garces | FW | CSKA Sofia | Academica | u/d | |
| Gomes | MF | Coritiba | Academica | u/d | |
| Ney | DF | Joinville | Amadora | u/d | |
| Vidigal | Coach | Out of contract | Belenenses | n/a | |
| Aimar | MF | Zaragoza | Benfica | 6.50 | |
| Flores | Coach | Out of contract | Benfica | n/a | |
| Martins | MF | Recreativo | Benfica | 3.00 | |
| Reyes | MF | Atletico Madrid | Benfica | Loan | |
| Sidnei | DF | Internacional | Benfica | u/d | |
| Suazo | FW | Inter | Benfica | Loan | |
| Meyong | FW | Belenenses | Braga | u/d | |
| Sandri | Coach | Out of contract | Maritimo | n/a | |
| Benitez | DF | Lanus | Porto | 2.00 | |
| Givanildo | FW | Tokyo Verdy | Porto | u/d | |
| Gonzalez | MF | Contract Extension | Porto | 2012 | |
| Guarin | MF | St Etienne | Porto | u/d | |
| Moraes | FW | Contract Extension | Porto | 2010 | |
| Pelle | MF | Inter | Porto | Free 1 | |
| Rolando | DF | Belenenses | Porto | Free | |
| Sapunaru | DF | Rapid Bucharest | Porto | 2.50 | |
| Viana | FW | Sporting | Porto | Free | |
| Bastia | GK | Fulham | Sporting | u/d | |
| Caneira | DF | Valencia | Sporting | u/d | |
| Grimi | DF | Milan | Sporting | u/d | |
| Izmailov | MF | Lokomotiv Moscow | Sporting | 4.50 | |
| Postiga | FW | Porto | Sporting | 2.50 | |
| Rochemback | MF | Middlesbrough | Sporting | Free | |
| Carrijo | FW | Portuguesa | Vitoria Setubal | u/d | |
| 21.00 | |||||
| u/d = undisclosed | |||||
| 1 = Pele joins Porto as part of Quaresma's transfer to Inter | |||||