The competition started on 3 September 1997 and concluded on 29 April 1998 with the final, held at the Mestalla Stadium in Valencia.
(*) Athletic Bilbao, Atlético Madrid, Barcelona, Deportivo La Coruña, Real Betis, Real Madrid, Valladolid from 1ª División.
Bye: Athletic Bilbao, Atlético Madrid, Barcelona, Deportivo La Coruña, Betis, Real Madrid, Valladolid.
Bye: Athletic Bilbao, Atlético Madrid, Barcelona, Deportivo La Coruña, Betis, Real Madrid, Valladolid.
Bye: Athletic Bilbao, Atlético Madrid, Barcelona, Deportivo La Coruña, Betis, Real Madrid, Valladolid.