The 1965 New York Yankees season was the 63rd season for the Yankees in New York and their 65th overall. The team finished with a record of 77–85, finishing 25 games behind the Minnesota Twins. New York was managed by Johnny Keane. The Yankees played at Yankee Stadium. This season marked the beginning of a transition for the Yankees before a resurgence in the mid 1970s. This was the first season since 1925 that they failed to finish either above the .500 mark or in the first division. They would bottom out in 1966, their first time doing so since 1912.