February 28 – Seeking an unprecedented 3-year $1.05 million to be divided evenly, the Dodgers' Sandy Koufax and Don Drysdale begin a joint holdout.
March 5 – In what will prove to be one of the more influential off-the-field events in Major League history, representatives of the players elect Marvin Miller to the post of Executive Director of the Major League Players Association (MLPA).
March 17 – Sandy Koufax and Don Drysdale escalate their threat of retirement by signing movie contracts.
March 30 – Sandy Koufax and Don Drysdale end their 32-day holdout, signing for $130,000 and $105,000 respectively.
April 3 – USC pitcher Tom Seaver signs with the New York Mets. He had been drafted by the Atlanta Braves, but they had signed him to a minor league contract while he was still in college. This voided Seaver's remaining eligibility, and voided the contract. The Mets won a special lottery over Cleveland and Philadelphia to win the right to sign him.
October 9 – In Game Four of the World Series, Dave McNally wraps up a brilliant pitching display, and the first World Championship for the Baltimore Orioles, with a four-hit, 1–0 shutout against the Los Angeles Dodgers. Series MVP Frank Robinson hits a home run off Don Drysdale for the only run of the game and gave Baltimore a surprising sweep of the defending World Champion Dodgers. The shutout completes a World Series record 33⅔ scoreless innings pitched by Orioles pitchers, beginning with Moe Drabowsky pitching 62⁄3 innings in relief of McNally in Game One, followed by shutouts by Jim Palmer and Wally Bunker. The Orioles are the last of the original eight American League franchises to win their first World Series.