Dončić made his 2016–17 season debut on September 30, 2016, against Unicaja, recording 6 points and 4 assists in 19 minutes. He collected 3 points, 5 rebounds, and 4 assists in an NBA preseason win on October 3, 2016, over the Oklahoma City Thunder. On December 4, he posted a double-double of 23 points and 11 assists, both season-highs, in a 92–76 win over Montakit Fuenlabrada. The game earned him his first ACB player of the week honor. Dončić scored a team-high 17 points in a EuroLeague victory over Žalgiris Kaunas on December 8, 2016. After recording 16 points, 6 rebounds, 5 assists, and 3 steals in a 95–72 win over Brose Bamberg on December 22, he was named MVP of the Round in the EuroLeague, becoming the youngest player ever to do so. He earned the same honor on January 14, 2017, after posting 10 points, 11 rebounds, and 8 assists to help beat Maccabi Tel Aviv. On February 9, Dončić recorded 5 points, 7 rebounds, and 11 assists to defeat UNICS Kazan. He scored a season-high 23 points on February 18, in the Spanish King’s Cup versus Baskonia. After scoring 13 points and grabbing 8 rebounds in the 2017 EuroLeague Playoffs against Darüşşafaka on April 26, he shared MVP of the Round accolades with two other players. Two days later, he won the award outright, posting 11 points, 5 rebounds, and 7 assists to lead Real Madrid to a EuroLeague Final Four berth. Through 42 ACB games in the season, Dončić averaged 7.5 points, 4.4 rebounds, and 3 assists. Through 35 EuroLeague contests, he averaged 7.8 points, 4.5 rebounds, and 4.2 assists per game. He was named EuroLeague Rising Star by a unanimous vote and claimed the ACB Best Young Player Award.