It began on 18 January 1948 with the quarterfinals and concluded on 1 February 1947 with the final which was held at GSP Stadium.
AEL won their 3rd Cypriot Cup trophy after beating APOEL 2–0 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.