It was contested by 6 clubs, winners of regional championships, and took place from 3 to 24 June 1923.
FC Porto, the defending champions, were eliminated by Sporting CP in the semi-finals.
The winners were Sporting CP, who defeated Académica by 3–0 in the final.
This represents an increase in the number of clubs compared to the previous season, which had only the winners of Lisbon FA and Porto FA.
[1] All matches are played on a single-leg, at a neutral venue, with extra time and penalties if necessary.