It began on 12 November 1997 with the preliminary round and concluded on 15 May 1998 with the final which was held at Makario Stadium.
Anorthosis won their 7th Cypriot Cup trophy after beating Apollon 3–1 in the final.
If extra time was drawn, there was a replay at the ground of the team who were away for the first game.
If both teams had scored the same number of home and away goals, then extra time was following after the end of the second leg match.
If there weren't scored any goals during extra time, the qualifying team was determined by penalty shoot-out.