It began on 13 February 1938 with the quarterfinals and concluded on 27 March 1938 with the final which was held at GSP Stadium.
Enosis Neon Trust won their 3rd Cypriot Cup trophy after beating AEL 2–1 in the final.
In all rounds each tie was played as a single leg and was held at the home ground of one of the two teams, according to the draw results.
If a match was drawn, extra time was following.
If extra time was drawn, there was a replay match.