A total of 16 clubs entered the competition.
It began on 18 June 1955 with the first round and concluded on 10 July 1955 with the final which was held at GSP Stadium.
EPA Larnaca won their 5th Cypriot Cup trophy after beating Pezoporikos 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 extra time was drawn, there was a replay match.