The Panthers entered the 2010 Premiership with many experts not giving the club much hope of making the semi finals. Club legend Greg Alexander predicted the Panthers would finish 4th as part of his analysis of teams in Big League NRL Season Preview.
At the end of the twenty-six preliminary rounds the Panthers finished second on the NRL Premiership table recording 15 wins and 9 losses.
In the first week of the semi-finals, they were defeated by the Canberra Raiders at CUA Stadium 24-22 on Saturday, September 11 2010.
In the second week of the semi-finals, they were eliminated when defeated by the Sydney Roosters at the Sydney Football Stadium 34-12 on Saturday, September 18 2010.
Fullback/Winger Michael Gordon at the end of the season had broken the club record for most points in a season in scoring 270 points with 16 tries and 103 goals.
Fullback Lachlan Coote was the Panthers leading try scorer for the Panthers with 17 tries for the season.
Gordon was joined by Michael Jennings, Luke Lewis and Trent Waterhouse representing New South Wales in the State of Origin series. Petero Civoniceva represented Queensland.