The 2023–24 season is Grazer AK's 122nd season in existence and fifth consecutive in the 2. Liga, the second division of Austrian football. They also compete in the Austrian Cup.
^DSV Leoben was not granted admission to the 2nd division in the first and second instance. The club then appealed to the league's permanent neutral arbitration tribunal, where it also failed. As no other club from the Regionalliga West that had applied for a second division licence was granted, Amstetten remained in the league and the number of relegated teams was reduced to two. Dornbirn also failed to gain admission to the 2nd division and was relegated together with Leoben.