In the 1995–96 season, Slutskaya competed in the inaugural edition of the Champions Series (later renamed the ISU Grand Prix of Figure Skating), taking bronze at the 1995 Skate America and placing fourth at the 1995 Trophée de France. In January 1996, at the European Championships in Sofia, Bulgaria, she became the first Russian woman to win the European title, performing six triples in the free skating to dethrone the five-time defending champion Surya Bonaly. Slutskaya also won the Centennial on Ice, combining with Butyrskaya to hand Kwan her only defeat of the season. At the Champions Series Final, held in Paris in late February 1996, she finished ahead of reigning World champion Chen Lu (4th) and took the silver medal behind Michelle Kwan. In March, she competed at the 1996 World Championships in Edmonton, Canada. Third in the short program, she held onto her position in the next segment after recovering from an early fall to complete six triples. She was awarded the bronze medal and stepped onto her first World podium, alongside Kwan (gold medalist) and Chen (silver).