The 2001–02 Scottish Challenge Cup was the 11th season of the competition, which was also known as the Bell's Challenge Cup for sponsorship reasons. It was competed for by the 30 member clubs of the Scottish Football League. The defending champions were Airdrieonians, who defeated Livingston 3–2 on penalties in the 2000 final. The final was played on 14 October 2001, between Airdrieonians and Alloa Athletic at Broadwood Stadium in Cumbernauld. Airdrieonians won 2–1, to win the tournament for a third time after winning the 1994 and 2000 finals.