The goal-hungry Portuguese side netted five times without reply at the Estadio da Luz to make it a horror night for the makeshift Merseysiders.
Moyes was missing a number of key individuals and his youngsters were torn apart by Argentinians Pablo Aimar, Javier Saviola and exciting wide man Angel Di Maria.
Di Maria, in particular, drew specific praise from the gracious Goodison boss afterwards but Everton must improve when they host the new group leaders next time out in the competition.
"That was the best team we had tonight," explained Moyes. "I have got to say they did the best they could and as good as they could.
"I have only praise for them. I have said to the players this is a different competition than the league, we've had two wins and one defeat. It is not too bad.
"Obviously tonight's defeat was not what we wanted but I would like to play Benfica
with my best side.
"They have a good attitude and showed their attacking qualities in the second half and capitalised on several mistakes we made in that spell and took their opportunities very well.
"I thought Di Maria was like an attacking full-back, more of a winger. He did so many good things. He would have given a proper full back tonight a real difficult game."
Saviola opened the scoring after Di Maria tormented Dan Gosling and Marouane Fellaini was caught out in midfield as Everton conceded twice in quick succession after half time.
Paraguay goal-machine Oscar Cardozo got both goals from close range after good work from Aimar and Saviola, and then converting a Di Maria cross with his head.
It was soon 4-0 when Luisao's header from an Aimar corner flew in off the far post with Tim Howard helpless.
Louis Saha acrobatically turned to lash a Jo cross against the woodwork but Everton's misery was complete when Di Maria sped down the left again and supplied the assist for Saviola to bag his second of the game.
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Good old everton........a true Great Team, and effort...........go guys........and the best manager ever......
By aj.. Posted October 24 2009 at 3:11 PM.