The 2022–23 season was the 99th season in the history of Rayo Vallecano and their second consecutive season in the top flight. In addition to the league, the club participated in the Copa del Rey, losing in the round of 32 to second division side Sporting Gijón.
Players
First-team squad
Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply. Players may hold more than one non-FIFA nationality.
Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply. Players may hold more than one non-FIFA nationality.
Source: LaLiga Santander Rules for classification: 1) Points; 2) Head-to-head points; 3) Head-to-head goal difference; 4) Goal difference; 5) Goals scored; 6) Fair-play points (Note: Head-to-head record is used only after all the matches between the teams in question have been played)[14] Notes: