In this decade Palestine would obtain its greatest achievements, nevertheless at the beginning of 1971, the team was playing on Second Division.

In 1972, having Rubén Marcos as a great player, the team is champion of the Second Division tournament, returning to the highest division of the Chilean Football the next year.

In 1973 a plan led by Enrique Atal, a former leader of the team, was already underway in the process of professionalization in the early 1950s, in order to recover the power of the team achieved in previous decades. This plan was quite ambitious and counted in 1974 with the recruitment of Caupolicán Peña, a quite innovative coach at that time, the hiring of great players such as Oscar Fabbiani and also taking advantage of the fruitful youth divisions.

The results can be seen in 1975: Palestino wins the Copa Chile, defeating Lota Schwager 4-0. At that moment, the team begins to struggle the highest positions. Also, that same year, the team wins the qualification playoffs for Copa Libertadores 1976.

In 1977, Palestino made a master stroke: he managed to repatriate Elias Figueroa, star player, defender of Inter of Porto Alegre in Brazil, and of the best Chilean players. The results didnt wait to come and that same year Palestine defeats Unión Española 4-3 on the final match of Copa Chile, and out of that, the team wins the qualification playoffs for Copa Libertadores 1978.

In 1978 Palestino obtained his second title, the team led by Elías Figueroa was raised like champion, besides to display a unique record in the Chilean football history of 44 dates without knowing defeats, as well as also obtains an important participation in Copa Liberadores 1979, being defeated In semifinals by the powerful team of Olimpia of Paraguay.