| Postseason: |
Lost World Series (4-3) to St. Louis Cardinals Won AL Championship Series (3-2) over California Angels |

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Transactions listed are from November 1 of previous year to April 1 of the following year.
October 23, 1981
Traded Rickey Keeton to the Houston Astros. Received Pete Ladd.
November 5, 1981
Returned Donnie Moore to the St. Louis Cardinals following previous purchase.
December 7, 1981
Drafted Mike Warren from the Oakland Athletics in the 1981 rule 5 draft.
December 19, 1981
Signed Ty Van Burkleo as an amateur free agent.
1982
Released Andy Replogle.
January 12, 1982
Drafted Chris Bosio in the 2nd round of the 1982 amateur draft (January Secondary). Player signed June 1, 1982.
Drafted Tom Pagnozzi in the 24th round of the 1982 amateur draft (January), but did not sign the player.
January 15, 1982
Signed Carlos Ponce as an amateur free agent.
February 5, 1982
Released Reggie Cleveland.
February 26, 1982
Released John Flinn.
March 3, 1982
Signed Edgar Diaz as an amateur free agent.
March 5, 1982
Traded Thad Bosley to the Seattle Mariners. Received Mike Parrott.
March 29, 1982
Released Mike Parrott.
May 14, 1982 (Standings)
Traded John Evans (minors) and Mike Warren to the Oakland Athletics. Received Rob Picciolo.
June 7, 1982 (Standings)
Drafted Dale Sveum in the 1st round (25th pick) of the 1982 amateur draft. Player signed June 14, 1982.
Drafted Billy Jo Robidoux in the 6th round of the 1982 amateur draft.
Drafted Jim Paciorek in the 8th round of the 1982 amateur draft.
Drafted Jay Aldrich in the 10th round of the 1982 amateur draft.
Drafted Chuck Crim in the 17th round of the 1982 amateur draft.
Drafted Mark Ciardi in the 27th round of the 1982 amateur draft, but did not sign the player.
August 11, 1982 (Standings)
Purchased Doc Medich from the Texas Rangers.
August 14, 1982 (Standings)
Sold Randy Lerch to the Montreal Expos.
August 30, 1982 (Standings)
Traded players to be named later and cash to the Houston Astros. Received Don Sutton. The Milwaukee Brewers sent Kevin Bass (September 3, 1982), Frank DiPino (September 3, 1982) and Mike Madden (September 3, 1982) to the Houston Astros to complete the trade.
October 15, 1982 (Standings)
Traded Tim Cook (minors) and Weldon Swift (minors) to the San Diego Padres. Received Tom Tellmann.
November 10, 1982
Bob McClure granted Free Agency.
December 2, 1982
Signed Dan Murphy as an amateur free agent.
December 6, 1982
Signed Bob McClure as a free agent.
December 19, 1982
Signed Ernie Camacho as a free agent.
January 11, 1983
Drafted Jim Morris in the 1st round (4th pick) of the 1983 amateur draft (January Secondary).
Drafted La Vel Freeman in the 1st round (26th pick) of the 1983 amateur draft (January).
Drafted Bobby Thigpen in the 7th round of the 1983 amateur draft (January), but did not sign the player.
March 28, 1983
Released Dwight Bernard.
April 1, 1983
Traded Steve Lake to the Chicago Cubs. Received a player to be named later and cash. The Chicago Cubs sent Rich Buonantony (minors) (October 24, 1983) to the Milwaukee Brewers to complete the trade.