[1] Ronnie O'Sullivan successfully defended his title beating Judd Trump 10–7 in the final.

[2][3] The breakdown of prize money for this year is shown below:[4] Players qualified for the event by winning important tournaments since the previous Champion of Champions.

Entry was guaranteed for the defending champion, winners of rankings events and winners of the following non-rankings events: 2014 Masters and 2014 Championship League.

Remaining places were then allocated to winners of European Tour events (in the order they were played) and then to winners of Asian Tour events and then, winners of the 2014 Six-red World Championship, 2014 Snooker Shoot-Out and 2013 World Seniors Championship.

The remaining three places were allocated to the three highest ranked players who had not already qualified, based on the world rankings after the 2014 Bulgarian Open.