The bottom 5 teams from the 2013–14 Serbian First League took part, as well as the 4 regional cup winners and a Kosovo and Metohija representative.
The draw was held on 30 August 2014, and was regionalised to minimise expenses for the participating clubs.
Because Smederevo withdrew from the cup, the Kosovo and Metohija representative received an automatic bye to the First round.
In this round, five winners from the previous round (Dorćol (III), Semendria 1924 (III), Moravac Mrštane (II), Inđija (II) and Kosovo and Metohija representative (Trepča (IV), not known at moment of draw)) are joined by all 16 teams from Serbian Superliga from 2013–14, as well as top 11 teams from Serbian First League from 2013–14.
No extra time was played if the score was tied after regular 90 minutes, with those games going straight into penalties.
Seeded teams: Red Star Belgrade, Partizan, Jagodina, Vojvodina, Čukarički, Radnički Niš, Voždovac and Spartak Subotica.
Seedings were determined by last seasons final standings in top two Serbian divisions.
No extra time was played if the score was tied after regular 90 minutes, with games going straight into penalties.
4 winners from Quarter finals (Jagodina, Partizan, Čukarički and Voždovac) took part in the semi-finals.