From 1968 to 1974, San Lorenzo had the best years in their history in terms of football. In that period, El Ciclón won four first-division titles, one in 1968, twice in 1972, and the last in 1974.

"Los Matadores" is the nickname given to the San Lorenzo team that became undefeated champions of the Metropolitan Tournament in 1968. This team is not only remembered for its elegance and good play but also for having been the first undefeated champion of Argentine football in the professional era. Throughout the tournament, the team had 16 wins and 8 draws; and scored 49 goals in contrast to the 12 they received. The top goalscorer of the tournament was Rodolfo "El Lobo" Fischer, with 13 goals. Fischer was once again the tournament's top scorer in the 1969 Torneo Nacional, with 14 goals, a tournament in which San Lorenzo would finish in 2nd place.

Between the championships of '68 and '72, San Lorenzo would finish fifth in the Metropolitan Tournament in 1969 and 1971 and third in 1970. While in the National Tournament, they would be runner-ups in 1969 and 1971 and fourth place in 1970.

Finally, in 1972, they would achieve another record. For the first time in the history of Argentine football, a team won two tournaments in the same year. San Lorenzo won the 1972 Torneo Metropolitano and the 1972 Torneo Nacional, undefeated like in 1968. The top goalscorer for the team in both tournaments was Rubén Ayala, with 15 goals in the Metropolitan Tournament, and 8 goals in the National Tournament.