It began on 8 September 2007 with the first round and concluded on 17 May 2008 with the final which was held at GSP Stadium.
APOEL won their 19th Cypriot Cup trophy after beating Anorthosis 2–0 in the final.
In the first and in the second round 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 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.
The semi-finals were played over two legs and the same format as in the third and fourth round was applied.
ASPIS Pylas which finished first in the 2007 STOK promotion play-offs, participated in the Cypriot Cup.