Watched by a crowd of 16,000 at the Volksparkstadion, Hamburg took the lead in the first half of the first leg when Ferdinand Keller scored. A David Fairclough goal in the second half levelled the match at 1–1, which remained the score when the match finished. A crowd of 34,391 saw Liverpool take the lead in the second leg when Phil Thompson scored in the 21st minute. A hat-trick from Terry McDermott and goal each from Kenny Dalglish and Fairclough secured a 6–0 win for Liverpool. Thus, Liverpool won 7–1 on aggregate to win their first European Super Cup.
Both teams were midway through their respective domestic campaigns at the time of the matches. Liverpool's last game before the first leg was against Bristol City, which they drew 1–1. This result left Liverpool sixth in the 1977–78 Football League. Hamburg played Borussia Dortmund in the 1977–78 Bundesliga in their last match before the first leg, which they lost 2–1. A subplot to the matches was that Hamburg striker Kevin Keegan, would be playing against the club that he left the previous season. Keegan had signed for Hamburg from Liverpool following their European Cup success.