It began on 6 March 1974 with the preliminary round and concluded on 23 June 1974 with the final which was held at GSP Stadium.
AC Omonia won their 3rd Cypriot Cup trophy after beating Enosis Neon Paralimni 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 extra time was drawn, there was a replay at the ground of the team who were away for the first game.
If the rematch was also drawn, then extra time was following and if the match remained drawn after extra time the winner was decided by penalty shoot-out.